FinTech Update: Thailand's FinTech Regulatory Sandbox
The Bank of Thailand (BOT) recently issued a consultation paper on FinTech Regulatory Sandbox Guidelines (the Draft Guidelines). The purpose of the Regulatory Sandbox is to allow business operators to test their financial products or services in a live but limited environment, without being fully subject to all requirements that are normally applicable. Through the Regulatory Sandbox, the BOT aims to facilitate new financial innovations while still ensuring consumer protection and financial system stability. We provide a summary of the key issues under the Draft Guidelines.