Digitization Minister Of Austria: Europe Has A Strong Tendency To Over-Regulation
In November 2018 announced the Austrian Finance Minister Hartwig Löger in his keynote address during the FinTechWeek Vienna that the government , the "Regulatory sandboxes" for Fintech projects for block chain will implement. On Thursday, 25 April, the Ministry of Finance (BMF) has now its first such "sandbox" presented .
The so-called "regulatory sandbox" should ensure that innovative applications for digital technologies are afforded sufficient leeway. In the future, fintechs will be able to test and train their innovative business models for a limited period under the supervision of the Financial Market Authority (FMA).
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