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The Arizona Attorney General’s Office has opened the first fintech sandbox in the United States, enabling financial services startups to bypass red tape and begin testing their products with live consumer data.
Currently, navigating state regulatory requirements can take several months and cost a startup company tens of thousands of dollars in fees.
Inviting applications from startups to join the programme, Arizona Attorney General Mark Brnovich, says: “Arizona has always been a state for big ideas and trailblazers, and this is just one more place where we are primed to be first. Our fintech sandbox will open the doors to economic growth, new jobs, and innovative products that can make everyday life easier and safer.”
The move comes a week after the US
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