UK Crypto Hub Plans Takes Next Step as Government Discusses Digital Securities Sandbox

The U.K. government said it plans to continue working with the financial services and technology industries to establish the legislation needed to pave the way for digital securities as it pursues its goal of becoming a hub for the crypto industry.

The design of a planned digital securities sandbox (DSS) that lets companies test new products with real customers under regulatory supervision was generally welcomed by respondents to a consultation distributed in July, the Treasury said Wednesday. Many respondents emphasized the need for the rules within the sandbox to remain flexible so it can adapt to novel use cases. They also asked for more clarity about tax treatment within the sandbox.

Source: UK Crypto Hub Plans Takes Next Step as Government Discusses Digital Securities Sandbox