Regulatory sandboxes are becoming a global trend, providing plenty of opportunities for innovative businesses.

Pioneered in the UK as part of the Financial Conduct Authority’s (FCA) “Project Innovate”, a regulatory sandbox is a “safe space” in which businesses can test innovative products, services, business models, and delivery mechanisms without immediately incurring all the normal regulatory consequences of engaging in the activity in question. Regulatory sandboxes are helpful for innovative businesses seeking to navigate regulatory regimes that seemingly only cater for more traditional business models.