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law. This concept, commonly known as “regulatory sandbox”, has been an platform development engine in other jurisdictions, such as the United Kingdom. This change and the legal certainty that it provides, will favor the creation and de- velopment of new ideas in a more expeditious way, since until now many entrepre- neurs feel they have been forced to invest significant financial resources and time to adapt to the current rules, with the risk of, in the end, not obtaining the respective authorization. This will allow entrepreneurs to test if a business model is viable. The minimum viable products - MVP - will be acceptable and recordable, so that if they work the new company could operate and try to scale rapidly. A TWO-WAY PATH 28

Fintech in LATAM | EY | Startupbootcamp FinTech | IPADE - Page 28 Fintech in LATAM | EY | Startupbootcamp FinTech | IPADE Page 27 Page 29