The London Financial Conduct Authority (FCA) recently announced the names of the 12 companies selected to form the fourth cohort of its regulatory sandbox. They indicated that only 29 of the 69 applications received were accepted by the entity that provides a financial and technical regulatory framework to test their products with customers.

The selected firms use advanced technologies to offer better products to customers. The list was announced on July 3rd and the FCA commented in its press statement that they accepted firms whose proposals are active in cryptocurrency, and that they

“are willing to explore whether in a controlled environment, customers can benefit by minimizing the associated risks.”

3 of the firms selected would have qualified for the previous cohort, but they had to carry out more tests on their products. Now they will do so in a regulatory sandbox that will represent a small scale for a short period of time. The FCA and the firms are currently negotiating the terms.

Taobao updates regulations on services with cryptocurrencies and ICOs Likewise, this sandbox tries to promote a more effective competition in the interests of the clients by allowing the firms to test products, services and innovative business models in a real market.

12 companies base their business on distributed accounting technology, using platforms such as BlockEx and Finegia, which would represent an important advance of blockchain technology and its foray into general public access products in England.

 

by Samuel Larreal

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