泰国的监管沙盒:框架、机制、评估与启示

Regulatory Sandbox in Thailand:Framework Mechanism,Assessment and Inspiration

泰国曾是东南亚地区经济增速最快的国家之一,但1997年亚洲金融危机席卷泰国,国内资金流失、股指下跌、泰铢贬值等一系列问题给予泰国金融业灾难性的打击。近年来,泰国政府一直致力于恢复本土金融行业的活力,在当下全球金融科技创新的浪潮中,金融科技创新成为泰国的可供选择之一。为了平衡好金融科技创新与可能面临的风险,泰国吸取了英国、新加坡的经验,于2016年正式提出构建"监管沙盒"的计划,随后泰国银行制定了较为完备的监管沙盒框架,在监管沙盒发展的过程中起到了重要的政策引导作用。泰国监管沙盒由泰国银行担任总设计师,从制定相关法律、审批测试项目、监管项目运行、提供相关辅导等,到配合泰国财政部等其他监管部门均发布了一系列金融科技领域的配套政策及法规。

Thailand was once one of the countries with the fastest economic growth in Southeast Asia before the Asian financial crisis.A series of problems such as domestic capital loss,stock index declines and devaluation of the Thai baht gave Thailand a catastrophic blow.In recent years,the Thai government has been committed to restoring the vitality of the local financial industry.At the same time,in the wave of global Fintech innovation,Fintech innovation has become an opportunity for Thailand’s economic development.In order to balance Fintech innovation and possible risks,Thailand has learned from the experience of Britain and Singapore,and formally proposed the construction of a“Regulatory Sandbox”plan in 2016.Subsequently,the Bank of Thailand developed a more complete Regulatory Sandbox framework,and it has played an important role in guiding the development of the sandbox.The Thai Regulatory Sandbox is led by the Bank of Thailand as the chief designer,from relative law-making,approving of test projects,supervising project operations and providing relevant guidance to releasing a series of supporting policies in Fintech with the cooperation with other regulatory agencies,such as the Ministry of Finance of Thailand.The purpose of the Regulatory Sandbox is to find a balance between Fintech innovation and risk.However,when it comes to implementation,countries around the world are at the primary stage of crossing the river by feeling stones.This paper is to deepen the understanding of regulatory box,by analyzing the regulatory framework,operating mechanism and practical experience of the Thai regulatory sandbox.