The Comisión Nacional de los Mercados y la Competencia (CNMC) in Spain has announced plans to amend the existing financial sandbox regulations through a new draft law. This initiative is part of the CNMC's ongoing efforts to promote effective competition across various sectors, particularly in the financial industry.

The proposed changes are designed to improve the operational framework of the financial sandbox, which allows fintech companies to test their innovations in a controlled environment. By refining these regulations, the CNMC aims to foster innovation while ensuring consumer protection and market integrity.

These adjustments reflect the CNMC's commitment to adapting regulatory measures to the evolving landscape of financial services, ensuring that both consumers and businesses can benefit from a competitive market. The authority encourages public participation in the consultation process to gather insights and feedback on the proposed changes.