In order to test new technology-based financial products and services in a controlled environment and establish a legal framework tailored to the characteristics and specifics of these products and services, amendments to the "Regulatory Sandbox Framework" were jointly approved by the Financial Regulatory Commission's chairman, the minister of finance and the governor of the bank of Mongolia by Joint Decree No. 124/75/A-86.
The amendments and additions to the framework set out temporary regulations regarding the process of transitioning products and services that have been successfully tested in the sandbox environment to the regulated market, as well as monitoring and regulation during the period until a regulatory environment is fully established.
The new rules also address the temporary suspension of activities by participants, compliance with anti-money laundering and counter-terrorism financing legislation and restrictions on the use of the sandbox environment to circumvent licensing requirements. These changes are aimed at supporting innovation and reform in the financial sector, while also preventing legal gaps and ambiguities, reducing delays and enhancing the transparency and effectiveness of the sandbox framework.
As of the first quarter of 2025, a total of eight products and services from five companies are being tested in the sandbox regulatory environment.

Published Date:2025-06-05