SEC Commissioner Issues Proposal for Joint US/UK "Digital Securities Sandbox"

On May 30, SEC Commissioner Hester Peirce announced a proposal for a joint US/UK "digital securities sandbox" in which companies from both jurisdictions could establish a safe harbor. Safely try to use blockchain technology for securities trading without fear of regulatory warnings. Her letter proposes to invite the US to participate in the "sandbox", the first proposed by the Bankof England and the Financial Conduct Authority for UK companies. Peirce said the "cross-border sandbox" could be more transformative than a purely domestic sandbox.