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What will the Spanish sandbox look like in the Post-COVID-19 scenario?

May 27, 2020

The Spanish Federation of Fintech and Insurtech (AEFI) will conduct next Wednesday, June 3rd (at 12 noon Madrid time) a telematic meeting to analyze the latest news on the sandbox approval process in the parliamentary process.

As explained by AEFI, this meeting will look at the current scenario in which putting the sandbox into operation immediately is crucial to bring Spain “at the forefront of financial innovation”. They also stressed from AEFI that the fintech ecosystem should improve access to finance to drive the economic recovery in the post-Covid 19 scenario.

Rodrigo Garcia de la Cruz, President of AEFI, and Jaime Bofill, partner of the law firm Hogan Lovells International, one of the association’s main partners, will attend the meeting.

Global ecosystem

What will the Spanish sandbox look like in the Post-COVID-19 scenario?What will the Spanish sandbox look like in the Post-COVID-19 scenario?

It is estimated that there are already 27 countries in the global fintech ecosystem that have decided to introduce regulatory sandboxes. This was reported by Colombia Fintech in an article by Laura Bartolomé that was published on March 3.

The publication reminded of it A draft law to create a regulatory sandpit has already been approved in Spain. With this test bank, technology-based financial companies can test their products or services within a regulatory framework and under a supervisory authority.

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