Background The North American Free Trade Agreement (NAFTA) is a multilateral agreement entered into by United States, Canada and Mexico to regulate trade and investment within the three countries. Some of the terms in NAFTA are on removal of trade barriers, rules of origin, customs procedures, agriculture, sanitary and phytosanitary measures, government procurement, investment, protection of intellectual property rights, trade in goods and services and dispute settlement procedures. This agreement came into effect on January 1st, 1994. However, last year the Trump Administration prompted Canada and Mexico to begin renegotiating NAFTA as required by the Trade Promotion Act. So far, four round

“Regulatory sandboxes” have become almost as ubiquitous as “FinTech” or “block-chains,” but not many fully understand their goal, scope, or application. This article introduces regulatory sandboxes, provides background on their origin and the context in which they are used, discusses prominent jurisdictions that have adopted, or are considering, sandboxes, and examines what lies ahead for this regulatory innovation. The “What” and the “Why” While there is no precise definition, a regulatory sandbox is, broadly speaking, a framework within which innovators can test business ideas and products on a “live” market, under the relevant regulator’s supervision, without fear of enforcement actions i