MGA publishes amendments to its Sandbox Regulatory Framework

The MGA is hereby publishing amendments further to the ‘Guidance on the use of Innovative Technology Arrangements and the acceptance of Virtual Financial Assets and Virtual Tokens through the implementation of a Sandbox Environment’. The amendments mainly consist of the following:

  • Extension of the sandbox framework to 31 December 2022 (section 1.1);
  • Changes to the documentation that need to be submitted by applicants further to the approval to participate in the sandbox framework (section 2.1);
  • Changes to the criteria pertaining to VFAs (section 2.1.1);
  • Guidance relating to the applicability of the sandbox framework (section 2.1.3);
  • Clarification relating to additional safeguards that may be imposed by the MGA in order to grant an approval to participate in the sandbox framework (section 2.1.4).

Kindly contact the Innovation Team on [email protected] for any queries related to the above.

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