GovWire

Consultation outcome: Consultation on the Digital Securities Sandbox

Hm Treasury

December 20
12:03 2023

Consultation Outcome: Digital Securities Sandbox

Request an accessible format.
If you use assistive technology (such as a screen reader) and need a version of this document in a more accessible format, please email digital.communications@hmtreasury.gov.uk. Please tell us what format you need. It will help us if you say what assistive technology you use.

Detail of outcome

The government has confirmed its final approach to implementing the Digital Securities Sandbox, which will facilitate the use of digital assets in financial markets. This document summarises the feedback on the consultation, which was published on 10 July 2023 and closed 22 August 2023, and sets out the governments response.

The statutory instrument setting up the Digital Securities Sandbox was laid on 18 December 2023. The legislation can be found here: The Financial Services and Markets Act 2023 (Digital Securities Sandbox) Regulations 2023 (legislation.gov.uk)


Original consultation

Summary

This government is consulting on the first financial market infrastructure sandbox, referred to as the Digital Securities Sandbox, which will enable digital securities to be tested and ultimately adopted across financial markets.

This consultation ran from
to

Consultation description

This consultation sets out HM Treasurys proposed approach to delivering a Digital Securities Sandbox (DSS), which will be the first financial market infrastructure sandbox delivered under the powers granted as part of the Financial Services and Markets Act 2023. The DSS will facilitate the testing and adoption of digital securities across financial markets. Through the DSS, industry will be able to set up financial market infrastructures that utilise digital asset technology, which can perform a number of activities in relation to digital securities under a temporarily modified legislative and regulatory framework.

The consultation invites feedback from industry on the approach to the DSS, and seeks feedback on some further policy and legal issues.

It also invites respondents to formally express their interest in using the DSS, on the basis that conversations with potential applicants should begin as early as possible.

Responses to this consultation should be sent to digitalsecuritiessandbox@hmtreasury.gov.uk by 22 August.

Note that responses will by default be shared with the Bank of England and the Financial Conduct Authority. Responses should clearly indicate where they do not wish for responses to be shared, or if they would like them anonymised.

Documents

Consultation on the Digital Securities Sandbox

Request an accessible format.
If you use assistive technology (such as a screen reader) and need a version of this document in a more accessible format, please email digital.communications@hmtreasury.gov.uk. Please tell us what format you need. It will help us if you say what assistive technology you use.

Related Articles

Comments

  1. We don't have any comments for this article yet. Why not join in and start a discussion.

Write a Comment

Your name:
Your email:
Comments:

Post my comment

Recent Comments

Follow Us on Twitter

Share This


Enjoyed this? Why not share it with others if you've found it useful by using one of the tools below: