英格蘭銀行與 FCA 啟動數位證券沙盒諮詢

英格蘭銀行和金融行為監理局發起了數位證券沙盒（DSS）諮詢，使參與者能夠測試用於交易和結算數位證券的 DLT。該沙盒旨在持續五年，旨在建立新的證券結算監管制度，成功的申請人根據修改後的法規提供託管和結算服務。 DSS 旨在加速監管變革並促進創新，第一批申請者預計將於 2024 年秋季加入。該計劃在 5 月 29 日之前開放回饋，歡迎各類公司優化學習機會並促進英國金融體系創新。

Bank of England, FCA Launch Digital Securities Sandbox Consultation

英格蘭銀行與 FCA 啟動數位證券沙盒諮詢

In a groundbreaking move that signals the United Kingdom's commitment to shaping the future of digital finance, the Bank of England (BoE) and the Financial Conduct Authority (FCA) have initiated a consultation process for their Digital Securities Sandbox (DSS). This pioneering initiative will provide a controlled environment for participants to test and validate distributed ledger technology (DLT) in the trading and settlement of digital securities, a transformative step that could revolutionize the financial landscape.

英國央行 (BoE) 和金融行為監理局 (FCA) 啟動了數位證券沙盒 (DSS) 諮詢流程，這是一項開創性舉措，標誌著英國致力於塑造數位金融的未來。這項開創性措施將為參與者提供一個受控環境，以測試和驗證數位證券交易和結算中的分散式帳本技術（DLT），這是可能徹底改變金融格局的變革性步驟。

The DSS, with its five-year lifespan, represents a transformative experiment that could establish a new regulatory framework for securities settlement. By leveraging the sandbox, selected applicants will gain the authority to offer securities depository and settlement services, as well as operate trading venues under modified regulations. This unprecedented opportunity empowers these participants to explore the full potential of DLT in a real-world context, fostering innovation and enhancing the efficiency of securities transactions.

DSS 的生命週期為五年，代表著一項變革性的實驗，可以為證券結算建立新的監管架構。透過利用沙盒，選定的申請人將獲得提供證券存管和結算服務以及根據修改後的法規運營交易場所的權限。這一前所未有的機會使這些參與者能夠在現實世界中探索 DLT 的全部潛力，促進創新並提高證券交易的效率。

"The new Digital Securities Sandbox redefines how we regulate," proclaimed Sheldon Mills, FCA Executive Director, in a statement. "It empowers firms to trial regulatory changes in real-life scenarios before their permanent adoption. We anticipate this approach will accelerate the delivery of regulatory changes, enhancing effectiveness, collaboration, and speed."

FCA 執行董事 Sheldon Mills 在一份聲明中表示：“新的數位證券沙盒重新定義了我們的監管方式。” “它使公司能夠在永久採用之前在現實場景中嘗試監管變革。我們預計這種方法將加速監管變革的實施，提高有效性、協作和速度。”

The DSS, which will unfold over five years, holds the potential to pave the way for permanent regulations that govern the trading and settlement of digital assets, a move that would cement the UK's position as a global leader in digital finance. The initiative stems from consultations initiated by the UK Treasury in July 2023, followed by government announcements in November 2023 to enact legislation implementing the sandbox.

DSS 將在五年內展開，有可能為管理數位資產交易和結算的永久性法規鋪平道路，此舉將鞏固英國作為數位金融全球領導者的地位。此舉措源自英國財政部於 2023 年 7 月發起的磋商，隨後政府於 2023 年 11 月宣布頒布實施沙盒的立法。

In December 2023, the government introduced new regulations that provide financial regulators with guidelines for overseeing the sandbox. These regulations, which took effect on January 8 as part of the UK's Financial Services and Markets Act 2023, set the stage for the launch of the consultation process.

2023 年 12 月，政府推出了新法規，為金融監理機關提供了監理沙盒的指導方針。這些法規作為英國《2023 年金融服務和市場法案》的一部分於 1 月 8 日生效，為啟動諮詢流程奠定了基礎。

The joint consultation paper released by the BoE and FCA invites feedback from interested parties until May 29. Following the review of feedback, the regulators plan to open applications during the summer, with the first participants joining the initiative in autumn 2024.

英國央行和 FCA 發布的聯合諮詢文件邀請有興趣的各方在 5 月 29 日之前提供回饋。在審查回饋後，監管機構計劃在夏季開放申請，首批參與者將於 2024 年秋季加入該計畫。

The DSS, according to the regulators, will welcome a diverse spectrum of firms, fostering a collaborative environment that maximizes learning opportunities and stimulates innovation within the UK financial system. This inclusive approach is expected to facilitate more efficient and cost-effective methods for trading, settling, and utilizing securities among financial market participants.

監管機構表示，DSS 將歡迎多元化的公司，創造一個協作環境，最大限度地增加學習機會並刺激英國金融體系內的創新。這種包容性的方法預計將促進金融市場參與者之間更有效和更具成本效益的交易、結算和利用證券的方法。

The UK's embrace of digital securities has global implications. As the world transitions to a digital economy, the DSS serves as a model for regulators worldwide, demonstrating how innovation and regulation can coexist to harness the transformative power of DLT. The successful implementation of the DSS could establish the UK as a hub for digital finance, attracting investments and talent, while bolstering its reputation as a leader in shaping the future of finance.

英國對數位證券的接受度具有全球影響力。隨著世界向數位經濟轉型，DSS 成為全球監管機構的典範，展示了創新與監管如何共存，以利用 DLT 的變革力量。 DSS 的成功實施可以使英國成為數位金融中心，吸引投資和人才，同時鞏固其作為塑造金融未來的領導者的聲譽。