The regulatory sandbox is an alternative regulatory tool that allows the Authority to access testing in a controlled environment of new and emerging technology products and services and provides relevant information for understanding the evolution of technology. The rapid advances of digital technologies and their convergence must be matched with well-informed regulatory approaches. To maximize the benefits of digital technology innovation, the Authority is creating an enabling environment to facilitate innovation while safeguarding consumer interests.
An adaptive and collaborative policy framework suited to address the evolving complexities that come with the advancement of digital technologies is imperative for successfully establishing a regulatory sandbox. In an increasingly convergent age of digital technologies, forming diverse and effective collaborations with diverse stakeholders, such as those in the digital technology ecosystem, is essential to achieving the objective of the regulatory sandbox.
The Authority will directly supervise participants in the sandbox and has implemented a platform to receive, process, and monitor sandbox participants' progress. The focus on innovation sets the Authority’s sandbox apart from existing regulatory tools. It provides the data and insights that ensure the Authority has exposure to new ICT technologies and services and can inform policy and regulation.
We kindly encourage you to peruse the Regulatory Sandbox Framework document for a more comprehensive understanding of the sandbox framework. This document has been meticulously prepared to provide detailed insights into the framework’s structure and functionality.