The Sandbox news

Uzbekistan will reportedly roll out stablecoins as an official payment method from Jan. 1, 2026, under a new regulatory sandbox that also enables tokenized securities trading.

Former UK MP Lisa Cameron says the U.S. and U.K. are developing a joint sandbox to enable crypto passporting between the two markets. Alongside a Bank of England consultation on systemic stablecoins, U.S. and U.K. regulators have formed a transatlantic task force, but Cameron warns the U.K. risks missing the window if it does not act swiftly. Cameron urges the U.K. to accelerate regulation and support startups, citing the U.S. government's clear stance on frontier tech.

The Sandbox, the Ethereum‑based metaverse land game, is undergoing a major restructuring after Animoca Brands slashed more than half of its 250 staff and transferred its co‑founders Sébastien Borget and Arthur Madrid out of executive positions, with co‑founder roles now “ambassador” and “chairman.” Animoca’s CEO Robby Yung has taken over as the game’s new CEO a fortnight ago, and Animoca cited advances in generative AI as a driver for the layoffs, arguing that the technology can accelerate content and live‑ops while keeping teams lean. The overhaul will close several overseas offices, including those in Argentina, Uruguay, South Korea, Thailand and Turkey, leaving a formal presence in nine global locations. Despite heavy investment, the Sandbox’s player base has dwindled to only a few hundred daily active users, many of whom are bots, and the company is pivoting toward building crypto apps and a memecoin launchpad on Base. The SAND token has remained flat in the short term, down about 4% over the past month, while Animoca maintains that the platform’s core mission remains unchanged.

The Sandbox will cut more than half of its about 250 employees as Animoca Brands tightens control. Co‑founders Arthur Madrid and Sebastien Borget moved to strategic roles—Madrid becomes chairman and Borget global ambassador—while Animoca investment head Robby Yung is named CEO. The restructuring includes closing offices in Argentina, Uruguay, South Korea, Thailand, Turkey and Lyon, leaving nine global locations. Animoca says layoffs result from weak user engagement; daily active users have fallen to a few hundred, though the firm disputes bot‑activity claims. The SAND token’s market cap has dropped from $6.2 B in 2021 to about $700 M.

Thailand launched its Tourist Wallet to enable foreign-currency QR payments in baht, aiming to ease cross-border spending. The wallet supports cash, card top-ups, and overseas transfers, with monthly limits of 500,000 baht for merchants and 50,000 baht for small shops. A crypto-to-baht conversion feature remains suspended pending a regulatory sandbox review by the Securities and Exchange Commission, which is assessing KYC, anti-money-laundering measures and the safety of allowing tourists to convert crypto. The review is set to conclude by late August.

Thailand will launch the TouristDigiPay sandbox in Q4 2025, allowing foreign visitors to convert crypto to baht for spending. The 18‑month pilot, built with the SEC, Finance Ministry, AML Office and Tourism Ministry, bans direct crypto payments, pays merchants baht, and imposes KYC/AML on operators and e‑money providers. Safeguards such as monthly spending limits and no cash withdrawals will protect tourists and merchants. The project seeks to reverse 2025’s tourism decline—down 24 % from East Asia, 34 % from China—by making digital currencies more usable abroad. Deputy Prime Minister Pichai Chunhavajira will release full details on Monday, following earlier Phuket trials and ongoing regional experiments.

Thailand’s Securities and Exchange Commission announced a regulatory sandbox, “TouristDigiPay,” that will run for 18 months from Q4 2025 and let foreign tourists convert cryptocurrencies into Thai baht for use in the country. The initiative, co‑developed with the Ministry of Finance, the Anti‑Money Laundering Office and the Ministry of Tourism and Sports, prohibits direct crypto spending; merchants receive baht while KYC and AML requirements apply to all participants. Safeguards such as monthly spending limits and a ban on cash withdrawals will protect tourists and merchants. The program aims to revive Thailand’s tourism sector after a sharp decline in visitors, especially from China, and is part of a broader regulatory experiment that includes a trial in Phuket. Thailand’s SEC says full details will be released next week.

The SEC has signaled willingness to create a regulatory sandbox for digital asset firms, enabling exchanges such as Coinbase to test trading tokenized securities while awaiting formal rulemaking; at a recent digital‑assets roundtable Republican commissioners suggested exemptions that would allow unregistered exchanges to offer tokenized stocks and bonds on a time‑limited basis. Acting Chair Mark Uyeda and Commissioner Hester Peirce framed the sandbox as a way for firms to “see what works” and guide future regulations, while President Trump signed a crypto bill that repealed an IRS rule requiring DeFi platforms to collect broker‑style information. Critics, including Democrat Commissioner Caroline Crenshaw, warn that allowing exchanges to combine exchange, custody, and clearing services could threaten market order and banking stability; other countries have experimented with similar sandboxes, but the U.S. proposal remains under debate.

The Dubai Financial Services Authority (DFSA) has announced a Tokenization Regulatory Sandbox and is inviting firms to apply by 24 April 2025 to test tokenized investment products under regulatory oversight. The sandbox covers tokenized equities, bonds, sukuk, and collective investment fund units and is open to existing DFSA‑authorized issuers as well as new applicants who meet the regulator’s compliance criteria. Firms must submit applications from 17 March to April, after which an assessment will select those with business models and regulatory compliance. Successful participants will receive structured testing opportunities and tailored guidance as part of the DFSA’s broader Innovation Testing License programme aimed at refining financial products before full authorization. The initiative reflects the UAE’s ambition to become a global leader in digital finance, following approvals such as Ripple’s cross‑border payment licence and Abu Dhabi’s integration of stablecoins. Meanwhile, the global real‑world‑asset tokenization market is estimated at roughly $18.86 billion, having seen a more than 5 % uptick in users in the last month.

Berachain (BERA) will unlock 12.98 million tokens on February 10, raising its circulating supply to about 107.48 million after its main‑net launch and a 79 million‑token airdrop. The Sandbox (SAND) follows on February 14, when 205.59 million SAND—worth roughly $79 million—will be released, most of which will be added to the company reserve. Cheelee (CHEEL) also sees a 2.67 million‑token unlock on February 10, adding liquidity and a modest airdrop; the token trades near a $449 million market cap with only 6.64 % of its 1 billion‑token supply unlocked. Together these three events will free nearly $200 million of new supply, while other projects such as XAI, MOCA and SWEAT also plan unlocks later in the week.