Yves Mersch has said he remains sceptical about the benefits of “regulatory sandboxes”. 

“This is an area where, I would suggest, we exercise caution,” the European Central Bank executive board member said at a conference on fintech in Brussels on February 27.

Outlining the parameters of the sandbox – where to start and where to stop, who to involve and which activities to include – appears to be where the majority of Mersch’s concerns lie: “I’m not sure we have the right answers yet, but this