MAS proposes regulatory sandbox for fintech experiments
It notes the speed at which fintech is evolving, and says existing regulatory approach can stifle process
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Singapore
THE Monetary Authority of Singapore (MAS) set out its approach towards fintech experiment on Monday, as it proposed a regulatory "sandbox" for trials by both start-ups and large financial companies in this area of innovation.
The strategy closely follows that of the UK, where the Financial Conduct Authority (FCA) in May launched a "sandbox" that allows businesses, big and small, to try out a new fintech service at a limited scale.
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