Florida Chief Financial Officer (CFO) Jimmy Patronis cheered Gov. Ron DeSantis’ signing of a bill creating Financial Technology sandbox within the Office of Financial Regulation for facilitating technological innovation.
Last year, DeSantis and Patronis announced their plan to pursue legislation to create a regulatory sandbox for FinTech companies in Florida. A “regulatory sandbox” strikes the balance of ensuring a stable market that protects consumers while creating an environment where companies are provided flexibility to operate and provide new types of products and services.
“Thank you to Governor DeSantis for signing this important piece of legislation today. Also, a big thank you to the bill sponsors, Representative Jamie Grant and Senator Travis Hutson, for their hard work and support to get this bill passed. As someone who’s run a small business, I know just how beneficial it is to our communities to attract high paying, technology-focused jobs. FinTech’s opportunities for Florida are limitless and the more we can do to create a regulatory environment that allows businesses to innovate and test new technologies, the more effective we’ll be at attracting technology jobs and investment to Florida communities,” Patronis said on Tuesday.
“I was honored to work with Governor DeSantis, CFO Patronis and many others to get these reforms and innovations passed into law. Revolutionizing the way we protect and use state data is critical to our future and a reality only because of the unselfish teamwork that made this bill a reality. I cannot wait to see the Florida Digital Service transform the way government delivers services and the FinTech environment flourish here in Florida,” said state Rep. James Grant, R-Tampa.
“Thank you to Governor DeSantis for signing the FinTech legislation today. Ensuring Florida remains a top destination for companies seeking opportunities to grow is one of my top priorities, and I was honored to sponsor this important bill,” said state Sen. Travis Hutson, R-Palm Coast.