The U.K. Financial Conduct Authority (FCA) has announced the permanent launch of its Digital Sandbox on 1 August 2023, following two successful pilots. The Sandbox will be accessible to businesses, data providers, startups, as well as entities in banking, investment, lending, and payments. According to the FCA, the Digital Sandbox serves as a testing environment to support firms in the early stages of product development. Through proof of concepts, experimentation can take place within this environment. By utilizing a sandbox testing environment, products and services can ensure they do not have any unintended side effects that could impact the real world. (...) Furthermore, on July 3, the European Commission revealed that 20 projects, spanning finance, capital markets, global trade, and more, had been chosen for participation in a European Union regulatory sandbox. Effective August 1st, projects centered around the specified theme will have the opportunity to apply for the Permanent Digital Sandbox. The assessment process will consider criteria such as scope, genuine innovation, consumer benefit, readiness, and need for support. According to the FCA, the approval process will be completed within a maximum of 4 weeks.