Legislation on its own is not enough to control the risk of Fintech.The United Kingdom put forward the concept of Regulatory Sandbox in the world first and actively introduced the project to encourage the development of Fintech, which is effective in reducing the time and cost of getting innovative ideas to the market, helping facilitate access to finance for innovators, testing products and introducing them to the market, and building appropriate consumer protection safeguards.Meanwhile, it’s hard to address all the challenges the sandbox firms may face.Therefore, this paper puts forward some suggestions for the regulation of financial technology that we should innovate in ways of supervision, clarify the supervision identity, strengthen the cooperation of firms, exercise a rational supervision, protect consumer interests，and avoid the limitations of Regulatory Sandbox.

regulatory sandbox； financial technology; financial regulation; blockchain; FCA； regtech