Coindesk reports (https://www.coindesk.com/us-consumer-finance-watchdog-opens-regulatory-sandbox-to-blockchain/) that one of the US regulators has created the sandbox to help develop fledgling blockchain-powered businesses that might help disruptive innovations to finance and many other industries.
The representatives of the regulator, Consumer Financial Protection Bureau, say that they will be trying to find the "sweet spot" between fostering the development, while also preventing the proliferation of scams and other unscrupulous businesses in the space.
Paul Watkins is going to head the new office that will be in charge of rolling out the sandbox. Notably, he was previously in charge of the same initiative in the state of Arizona.