英格蘭銀行和 FCA 推出 2024 年秋季隊列數位證券沙盒

英格蘭銀行 (BoE) 和金融行為監理局 (FCA) 正在尋求有關英國數位證券沙盒 (DSS) 擬議營運框架的回饋，並計劃在夏季開放申請。 DSS 旨在促進數位資產在金融市場中的採用，允許符合資格的英國公司在旨在促進創新和保護消費者的監管環境中利用新興技術進行數位證券的交易和結算。

Bank of England and Financial Conduct Authority Unveil Digital Securities Sandbox for Autumn 2024 Cohort

英格蘭銀行和金融行為監理局推出 2024 年秋季隊列數位證券沙盒

In a joint initiative to foster innovation and facilitate the adoption of digital assets within financial markets, the Bank of England (BoE) and the Financial Conduct Authority (FCA) are preparing to launch the Digital Securities Sandbox (DSS) in autumn 2024. This sandbox will provide eligible UK firms with a controlled environment to test and develop innovative applications of emerging technologies, such as blockchain and distributed ledger networks, in the trading and settlement of digital securities.

為了促進創新並促進數位資產在金融市場中的採用，英格蘭銀行 (BoE) 和金融行為監管局 (FCA) 正準備在 2024 年秋季推出數位證券沙盒 (DSS)。將為符合條件的英國公司提供受控環境，以測試和開發區塊鏈和分散式帳本網路等新興技術在數位證券交易和結算中的創新應用。

The DSS is designed to accelerate the exploration and understanding of these technologies and their potential impact on financial markets. It will allow selected participants to operate within a tailored regulatory framework, enabling them to test new products, services, and business models while mitigating risks to consumers and the broader financial system.

DSS 旨在加速探索和了解這些技術及其對金融市場的潛在影響。它將允許選定的參與者在量身定制的監管框架內運作，使他們能夠測試新產品、服務和商業模式，同時減輕消費者和更廣泛的金融體系的風險。

"The Digital Securities Sandbox is a transformative tool that will reshape how we regulate," said Sheldon Mills, Executive Director at the FCA. "It will allow firms to test regulatory changes in real-world situations before they are made permanent, fostering innovation in digital assets while ensuring robust consumer protection."

FCA 執行董事 Sheldon Mills 表示：“數位證券沙盒是一種變革性工具，將重塑我們的監管方式。” “它將允許企業在監管變化永久化之前在現實情況下進行測試，從而促進數位資產的創新，同時確保強有力的消費者保護。”

Mills further emphasized the DSS's strategic significance in strengthening the UK's position as a global financial center, by driving the adoption of new technologies for trading and settling traditional assets.

米爾斯進一步強調了 DSS 透過推動採用新技術進行交易和結算傳統資產，在加強英國作為全球金融中心地位方面的戰略意義。

The DSS differs from the FCA's existing Digital Sandbox, which focuses on supporting firms in the early stages of digital product development. The DSS specifically targets the more advanced stages of development and testing, enabling participants to explore the practical implementation of digital securities within live market operations.

DSS 與 FCA 現有的數位沙盒不同，後者專注於在數位產品開發的早期階段為企業提供支援。 DSS 特別針對更高級的開發和測試階段，使參與者能夠探索數位證券在即時市場營運中的實際實施。

The timeline for the DSS's implementation began with the UK Treasury's initial proposal in July 2023. In November, the government responded to the public consultation and announced plans for legislation to implement the initiative. New regulations were introduced in December, providing supervisory guidelines for the sandbox under the Financial Services and Markets Act 2023, which came into effect on January 8.

DSS 的實施時間表始於英國財政部於 2023 年 7 月提出的初步提議。11 月，政府回應了公眾諮詢，並宣布了實施該舉措的立法計劃。 12 月發布了新法規，根據 1 月 8 日生效的《2023 年金融服務和市場法案》為沙盒提供了監管指南。

Following the release of a joint consultation paper on Wednesday, interested parties have until May 29 to provide feedback. The BoE and FCA will then issue a response and begin accepting applications for the DSS during the summer of 2024. The first cohort of participants is expected to join the initiative as early as autumn.

繼週三發布聯合諮詢文件後，有興趣的各方必須在 5 月 29 日之前提供回饋。英國央行和 FCA 隨後將發布回應，並於 2024 年夏季開始接受 DSS 申請。預計第一批參與者最早將於秋季加入該計畫。

"The Digital Securities Sandbox is a vital tool for regulators to understand how to adapt safely to technological advancements and changes in critical financial market processes, such as securities settlement," said Sasha Mills, Executive Director for Financial Market Infrastructure at the BoE. "We welcome input from potential participants and look forward to collaborating with the FCA, government, and industry throughout the DSS."

英國央行金融市場基礎設施​​執行董事 Sasha Mills 表示：“數位證券沙盒是監管機構了解如何安全地適應關鍵金融市場流程（例如證券結算）的技術進步和變化的重要工具。” “我們歡迎潛在參與者提出意見，並期待在整個 DSS 過程中與 FCA、政府和行業進行合作。”

Successful applicants will have the opportunity to offer securities depository and settlement services and operate a trading venue under a single legal entity. The DSS aims to encompass a diverse range of firms to maximize learning opportunities and foster innovation within the UK financial system.

成功的申請者將有機會提供證券存管和結算服務，並在單一法人實體下經營交易場所。 DSS 旨在涵蓋多元化的公司，以最大限度地增加學習機會並促進英國金融體系內的創新。

This initiative could pave the way for faster, more cost-effective trading, settlement, and utilization of securities among financial market participants. The DSS is expected to run for five years, subject to entry limits, and could culminate in permanent regulations governing the trading and settlement of digital assets.

這項措施可以為金融市場參與者之間更快、更具成本效益的證券交易、結算和利用鋪平道路。 DSS 預計將運行五年，但會受到准入限制，最終可能會形成管理數位資產交易和結算的永久性法規。

The UK has been a pioneer in the exploration of digital assets. In April 2023, the UK government published a "Roadmap to the UK's Digital Future," which outlined the country's ambition to become a global hub for digital asset technology and investment. The DSS is a key element of this strategy, providing a tangible platform for the development and testing of innovative applications in this emerging field.

英國一直是數位資產探索的先驅。 2023年4月，英國政府發布了《英國數位未來路線圖》，概述了該國成為全球數位資產技術和投資中心的雄心壯志。 DSS 是該策略的關鍵要素，為這一新興領域的創新應用程式的開發和測試提供了一個有形的平台。