Spain approves fintech sandbox plan to allow crypto-related companies to use controlled test platform

The Spanish government has approved a fintech sandbox program that will allow blockchain and cryptocurrency-related companies to use a controlled test platform before putting their products on the market. According to Critonoticias, the sandbox may be open sometime this year and will be overseen jointly by the Ministry of Finance, the Spanish Central Bank and two financial regulators. The government started the sandbox review as early as 2017 and initially hoped to open the test platform in October last year.