The Guernsey Financial Services Commission has reiterated its flexible approach to authorisation applications under its Innovation Sandbox + Concierge, clarifying that firms can use either the Sandbox or standard licensing routes depending on what best fits their business. In particular, the Commission no longer expects all new virtual asset service provider (VASP) applicants to proceed via the Sandbox. The refreshed Sandbox, launched in October 2025 under the Digital Finance Initiative, provides a structured environment for developing and launching innovative products and services and allows requirements to be adjusted rather than applying a single model to all firms. To reflect the shift away from an assumed Sandbox pathway for VASPs, the Commission proposes removing a specific reference to the application process in guidance to rule 10.2 of the Lending Credit and Finance rules. Firms can approach the Commission now and do not need to wait for the Digital Finance Initiative consultation to conclude or for any follow-on rule changes. The Commission encouraged firms and other stakeholders to engage with its ongoing consultation paper, Supporting Growth with Digital Finance, and submit views.

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