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IMF urges tight rules for crypto innovations in CMA sandbox
Currently, companies seeking admission into the sandbox must meet certain minimum requirements of all capital market participants and must be a registered company in Kenya or any other jurisdiction globally.
The International Monetary Fund (IMF) has urged the Capital Markets Authority (CMA) to keep a tight watch on participants in its “sandbox” who plan to trade on digital securities to limit risks in real-life situations even as the country strove to keep up with rapid advances in technology.
A “sandbox“ allows the testing of new services in the market with real customers but within a controlled regulatory environment.
