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The financial sandbox law will be approved by Congress this Thursday


The Law for the digital transformation of the financial system, the 'sandbox', will be approved this Thursday by Congress. Specifically, by the Committee on Economic Affairs and Digital Transformation, which has the necessary power to give the green light without having to put it to a vote in plenary.

According to the Europa Press agency, it is expected that this Law will have great support, despite everything, Mainly those of the PSOE, PP, United We Can, ERC and Citizens.

The law in question comprises a score of amendments proposed by the different political groups to the Ministry of Economic Affairs, most of them of a technical nature. It should be remembered that it was already approved by the Council of Ministers on February 18, just before the start of the pandemic.


Among its main changes, the presentation of the Economic Affairs Commission has approved, at the proposal of PP and Esquerra Republicana, to explicitly establish that in no case does the protocol of a project include compensation by the Administration for capital losses in a controlled space of tests.

Also at the ERC's proposal, the law opens the composition of the monitoring commission for these projects, contemplating the participation of "representatives of other institutions in the sector". Of course, always at the proposal of the General Secretariat of the Treasury and International Financing.

In their amendment, the Republicans sought to ensure the presence of consumer representative organizations, which the law enables to attend possible open sessions of this commission.


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