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Opinion: Decoding Sri Lanka s fintech regulatory sandbox – Lanka Business Online

By Imesha Dissanayake The sandbox concept evolved from the children’s learning game, vindicating the old “test and learn” approach to foster innovation. According to the UK Financial Conduct Authority (FCA), sandboxes are a safe space in which individuals can test innovative products, services, business models, and delivery mechanisms in a controlled environment. There are many types of sandboxes available globally with one such type being the regulatory sandbox. A regulatory sandbox apart from its functions as a sandbox, is also a mechanism where the regulator is able to identify regulatory barriers that hinders innovations.  UK FCA was the first to

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