英格兰银行与 FCA 启动数字证券沙盒咨询

英格兰银行和金融行为监管局发起了数字证券沙盒（DSS）咨询，使参与者能够测试用于交易和结算数字证券的 DLT。该沙盒旨在持续五年，旨在建立新的证券结算监管制度，成功的申请人根据修改后的法规提供托管和结算服务。 DSS 旨在加速监管变革并促进创新，第一批申请者预计将于 2024 年秋季加入。该计划在 5 月 29 日之前开放反馈，欢迎各类公司优化学习机会并促进英国金融体系创新。

Bank of England, FCA Launch Digital Securities Sandbox Consultation

英格兰银行与 FCA 启动数字证券沙盒咨询

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.

英国央行 (BoE) 和金融行为监管局 (FCA) 启动了数字证券沙盒 (DSS) 咨询流程，这是一项开创性举措，标志着英国致力于塑造数字金融的未来。这一开创性举措将为参与者提供一个受控环境，以测试和验证数字证券交易和结算中的分布式账本技术（DLT），这是可能彻底改变金融格局的变革性步骤。

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 的生命周期为五年，代表着一项变革性的实验，可以为证券结算建立新的监管框架。通过利用沙盒，选定的申请人将获得提供证券存管和结算服务以及根据修改后的法规运营交易场所的权限。这一前所未有的机会使这些参与者能够在现实世界中探索 DLT 的全部潜力，促进创新并提高证券交易的效率。

"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 执行董事 Sheldon Mills 在一份声明中表示：“新的数字证券沙盒重新定义了我们的监管方式。” “它使公司能够在永久采用之前在现实场景中尝试监管变革。我们预计这种方法将加速监管变革的实施，提高有效性、协作和速度。”

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 将在五年内展开，有可能为管理数字资产交易和结算的永久性法规铺平道路，此举将巩固英国作为数字金融全球领导者的地位。该举措源自英国财政部于 2023 年 7 月发起的磋商，随后政府于 2023 年 11 月宣布颁布实施沙盒的立法。

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，政府出台了新法规，为金融监管机构提供了监管沙盒的指导方针。这些法规作为英国《2023 年金融服务和市场法案》的一部分于 1 月 8 日生效，为启动咨询流程奠定了基础。

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.

英国央行和 FCA 发布的联合咨询文件邀请感兴趣的各方在 5 月 29 日之前提供反馈。在审查反馈后，监管机构计划在夏季开放申请，首批参与者将于 2024 年秋季加入该计划。

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.

监管机构表示，DSS 将欢迎多元化的公司，营造一个协作环境，最大限度地增加学习机会并刺激英国金融体系内的创新。这种包容性的方法预计将促进金融市场参与者之间更有效和更具成本效益的交易、结算和利用证券的方法。

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.

英国对数字证券的接受具有全球影响。随着世界向数字经济转型，DSS 成为全球监管机构的典范，展示了创新与监管如何共存，以利用 DLT 的变革力量。 DSS 的成功实施可以使英国成为数字金融中心，吸引投资和人才，同时巩固其作为塑造金融未来的领导者的声誉。