ChainCatcher news, according to Crypto Briefing, SEC Commissioner Mark Uyeda stated in an interview with Fox Business that he supports establishing a safe harbor and regulatory sandbox mechanism in the cryptocurrency space to promote innovation.As a leading candidate for SEC Chairman under the Trump administration, Uyeda emphasized the need to end the so-called "crypto war" and to create a clearer regulatory framework. Uyeda pointed out that "many crypto assets are not actually securities, yet they are labeled as such." He stressed the importance of collaboration between Congress, the White House, and regulatory agencies in establishing a comprehensive regulatory framework.

ChainCatcher news, the Hong Kong Association of Banks published an article in the Hong Kong media outlet Ta Kung Pao titled "Digital Banking Integrates into the Web 3.0 Wave," revealing that Hong Kong digital banks have completed over 100 "Fintech Regulatory Sandbox" tests through the Monetary Authority in the past four years, accounting for more than 40% of the total sandbox test cases.In addition, some Hong Kong digital banks have begun to provide reserve banking services for stablecoin issuers, and there are also digital banks capable of acting as settlement banks for licensed virtual asset trading platforms, offering services such as timely processing and settlement of transactions.

ChainCatcher news, according to Bitcoin.com, Spain's second-largest bank BBVA has announced the launch of a tokenized fund as part of the regulatory sandbox implemented by Spain's securities regulator CNMV. This sandbox allows participants to innovate and experiment with new technologies under the supervision of the regulatory authority. Each project must be submitted and approved according to the assessments and requirements established by CNMV.The BBVA short-term fixed income token fund will register its operations on a private blockchain, provided by Allfunds, a software developer that creates decentralized solutions for third parties. BBVA Asset Management will act as the manager and marketer of the fund, utilizing Allfund's network, smart contracts, and nodes specifically created for this test case. Investors will operate the fund like a traditional fund, thereby removing the complexities of decentralized operations.

ChainCatcher news, the Securities and Exchange Commission (SEC) of Thailand has launched a regulatory sandbox for digital assets, aimed at facilitating experimentation and the development of new digital asset services, and welcomes participants interested in testing its digital asset-related services.Among them, the six eligible digital asset-related services are: (1) digital asset exchanges; (2) digital asset brokers; (3) digital asset dealers; (4) digital asset fund managers; (5) digital asset advisors; (6) digital asset custody wallet providers.

ChainCatcher news, according to Bitcoin.com, the Hawaii Department of Business and Consumer Affairs and the Hawaii Technology Development Corporation (HTDC) announced on Friday that the state's regulatory sandbox—Digital Currency Innovation Lab (DCIL) will end on June 30. DCIL is a two-year pilot program that allows participating digital currency companies to operate in Hawaii without a state money transmission license. The end of the program means that these companies will no longer need this license to conduct business in Hawaii, but they must still comply with federal licensing, registration requirements, and consumer protection and anti-money laundering regulations.It is reported that a total of 11 companies participated in this sandbox program, including Apex Crypto, Bitflyer USA, etc., which will transition between July 1 and December 30. Notably, Blockfi, which had previously filed for bankruptcy protection, is also among them.Prior to this, cryptocurrency companies in Hawaii had to obtain a money transmission license to operate. The end of the sandbox program marks a new adjustment in Hawaii's regulatory policy towards digital currency companies.

ChainCatcher news, according to Bitcoin.com, Bits of Gold and Israeli authorities have launched the BILS stablecoin in a regulatory sandbox. This initiative is led by the cryptocurrency broker Bits of Gold in collaboration with the Israeli Capital Market, Insurance and Savings Authority.It is reported that the BILS pilot project is set up in a regulatory "sandbox" to assess the performance of the stablecoin on the Solana blockchain, adhering to the international standards and principles outlined by the Bank of Israel.Youval Rouach, co-founder and CEO of Bits of Gold, stated in a press release: "We are proud to launch BILS, a groundbreaking development that connects digital currency with the Israeli economy. The introduction of BILS marks a significant advancement in integrating digital currency into the Israeli economy while expanding financial accessibility."

ChainCatcher news, with the support of the Digital Europe program, the European Commission officially launched a regulatory sandbox on Tuesday (February 14) local time to explore innovative use cases involving distributed ledger technology (DLT). Companies can test their products and services in the sandbox while collaborating with relevant regulatory authorities.It is reported that the regulatory sandbox will support 20 projects from 2023 to 2026, including public sector use cases for the European Blockchain Services Infrastructure (EBSI). The first project call will close on April 14, 2023. (source link)

ChainCatcher news, Coinbase signed a memorandum of understanding with the Telangana government on Saturday local time, aiming to explore a Web3 regulatory sandbox in India and provide support as a technical advisor for the Web3 initiatives implemented by the Indian government. (Source link)

Chain Catcher News, Bitcoin infrastructure provider OpenNode announced that it will test Bitcoin payment processing and payment solutions in the Central Bank of Bahrain (CBB) regulatory sandbox, where OpenNode will provide the first Bitcoin infrastructure in Bahrain.Chain Catcher previously reported that in May this year, Binance Bahrain obtained a Category 4 license for Crypto Asset Service Providers (CASP) issued by the Central Bank of Bahrain, allowing Binance Bahrain to offer crypto asset trading services. (cointelegraph)