Study On The Innovation Of Sandbox Regulation In Financial Technology

Financial technology means that companies apply technology to innovative services and business models in the financial domain,which influence a wide range of areas,such as Mobile Payment,Peer-to-peer lending,and Intelligent financial management.Relying on the development of financial technology,the new financial model has gradually emerged,which bring us subversive innovation and tremendous economic value.However,financial technology also poses a challenge to the traditional financial supervision.The sandbox theory pioneered in the United Kingdom puts financial technology innovations in a safe place so that they will not violate the general laws and supervisions immediately.It means to provide a stable and predictable supervision environment,so that financial technology and innovations shall not be hindered by the existing general rules,but also gain practical experience as a support for their gradual improvement,and thus compatible with the development of financial supervision and financial technology,and form a Long-term supervision system.This paper analyzes the status quo of domestic financial technology supervision,and draws international experience from the sandbox supervision in order to build a supervision innovation model from the perspective of sandbox theory,expect to have a positive impact on the development and supervision of China's financial technology.In addition to the introduction and conclusions,the text includes four parts:The first part introduces the current situation and problems of the supervision of financial technology,deconstructs the characteristics of the financial technology industry,and excavate the insufficiency of the financial technology supervision.Thispaper mainly discusses the meaning and development status of financial technology,analyzes the characteristics and main categories of the industry in the field of financial technology,and discusses the current situation and problems of supervision,and mainly discusses the legal problems caused by the shortage of financial technology supervision from the perspective of financial security,technical risk and social security.The second part introduces the basic concept of sandbox theory and its practice abroad.In the introduction of the sandbox theory,the framework of the supervision sand box is outlined through the description of its basic principles,operating modes,classification standards and evaluation system.In order to provide some useful inspiration for the application of sandbox theory in China,the policy practice of foreign sandbox theory is studied by comparing the evaluation criteria,application process and exit mechanism of different financial maturity countries in order to study the policy practice of the application of foreign sandbox theory.The third part discusses sandbox system which is suitable for China's financial technology supervision.Mainly from the two levels of supervision concept and system,also mentioned the shortcomings of the sandbox system,and compare the conclusion that sandbox theory adapts to China's financial technology supervision.The fourth part,under the above problems and the background,this part will try to build a sandbox framework suitable for China's financial technology supervision from three aspects as the mode of financial technology supervision,the mode of operation and the dynamic protection of consumers.