Regulatory Sandbox Framework, Bangko Sentral ng Pilipinas Office of the Governor Circular No. 1153, Series of 2022 (Philippines)

The regulatory sandbox refers to a controlled, time-bound and live testing environment which may feature regulatory waivers at the discretion of the regulator, and prescribes the limits or paramaters within which the participants thereof must operate. Applicants must provide a financial solution that uses new or emerging technology or uses existing technology in an innovative manner, or one that bridges a market gap, in the delivery of financial products/services. 

The Guidelines provide for the eligibility standards and criteria, the conditions of approval to the sandbox, and the operational guidelines for the sandbox.