Hong Kong regulator launches fintech regulatory sandbox
The Hong Kong Monetary Authority launched a "fintech supervisory sandbox" on Sept. 6 to facilitate the pilot trials of fintech and other technology initiatives of authorized institutions.
HKMA said the sandbox is available to fintech and other technology initiatives intended to be launched in Hong Kong by authorized institutions. In addition, these firms are allowed to conduct pilot trials of initiatives involving actual banking services and a limited number of participating customers without the need to achieve full compliance with the HKMA's usual supervisory requirements during the trial period.
The regulator cautioned, however, that the sandbox cannot be used to bypass applicable supervisory requirements.
