'Crypto Mom' SEC Commissioner Proposes US-UK Digital Securities Sandbox

'Crypto Mom' SEC Commissioner Proposes US-UK Digital Securities Sandbox

According to Fox Business reporter Eleanor Terrett, U.S. Securities and Exchange Commission (SEC) Commissioner Hester Peirce, known as 'Crypto Mom' for her pro-crypto stance, has proposed the creation of a joint US-UK digital securities sandbox to the SEC. This sandbox would enable companies in both the US and UK to test the trading of securities using blockchain technology. Peirce is quoted as saying, "A cross-border sandbox is going to be more innovative than one that's just domestic." The proposed sandbox is part of a broader effort by the SEC to explore the use of blockchain technology in the financial markets. In recent months, the SEC has held a number of public roundtables and meetings on the topic. The agency has also been working closely with other regulators around the world to develop a common approach to regulating digital securities. The UK's Financial Conduct Authority (FCA) has also been积极探索blockchain technology. In July 2021, the FCA launched a 'regulatory sandbox' that allows firms to test innovative financial products and services in a controlled environment. The FCA has also been working with the SEC on a number of joint initiatives, including the development of a common framework for regulating digital securities. The creation of a US-UK digital securities sandbox would be a significant step forward in the development of the global digital asset market. It would provide companies with a safe and supportive environment to test new products and services, and it would help to foster innovation in the digital asset space.