Singapore’s experience in designing and operating fintech regulatory sandbox and lessons for Vietnam

Abstract

The development of The Fourth Industrial Revolution, with new business models based on emerging technologies such as AI, Blockchain, IoT, etc., especially in the area of finance, has brought about opportunities as well as challenges to many countries worldwide, including the strain placed on the legal system as there may be lack of regulation or the current ones may not be sufficiently clear to be applied to fintech. This article studies and analyses the provisions and practices of Singapore’s FinTech regulatory sandbox, draws lessons, and makes recommendations for designing a FinTech regulatory sandbox in Vietnam.