Spanish government passes sandbox bill

10 martie 2020

The Spanish government has approved draft legislation aimed at encouraging the digital transformation of the financial system through the establishment of a regulatory sandbox, where businesses can trial cutting-edge projects with real customers, according to

The approval of the draft bill places Spain among a number of other countries — six in Europe and less than 30 worldwide – to introduce a supervised and ring-fenced testing environment for innovative financial products.

Once the parliamentary proceedings are finalised, the Secretary of the Treasury is expected to open the process to the first wave of applications, which in principle can be submitted by any company — regulated or not — with a project that uses innovative technology for the delivery of financial products and/or services.

Project applications will be studied and assessed by the Department of Treasury and regulatory authorities, including Spain’s central bank, the National Securities Market Commission, and/or the General Directorate of Insurance.

The initiative has been welcomed by Lucía Pacheco of BBVA’s Regulation team: „We have a few months of intense work ahead, which will undoubtedly require significant effort and coordination on the part of the authorities, but also by the private sector. The expected outcome is promising, because we can move closer to the long-awaited balance between innovative development and necessary financial stability. This step represents an important milestone on that journey.”

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Adrian Vasilescu – consilier de strategie al guvernatorului BNR

„O singură provizie am făcut, de card, pentru că nu mai umblu cu banii în buzunar. Banii sunt cei mai periculoși când este vorba de răspândirea unei molimi. Am renunțat la cash. În rest, este o prostie să faci provizii. Dacă vine o molimă și nici nu știi când va ajunge, dacă ar fi să se întindă, pe cât timp să poți să faci provizii? Faci provizii pe trei săptămâni, pe patru săptămâni și mai departe?”, a spus consultantul.


In 23 septembrie 2019, BNR a anuntat infiintarea unui Fintech Innovation Hub pentru a sustine inovatia in domeniul serviciilor financiare si de plata. In acest sens, care credeti ca ar trebui sa fie urmatorul pas al bancii centrale in 2020?