SEC Commissioner Hester Peirce has proposed a joint 'Digital Securities Sandbox' between the United States and the United Kingdom. This cross-border initiative aims to create a safe harbor where companies in both jurisdictions can experiment with blockchain technology for trading securities without fear of regulatory repercussions. The proposal includes setting up a 'micro-innovation sandbox' that would allow U.S. companies to conduct a limited amount of business using blockchain technology. The cross-border sandbox would enable firms to operate under the same regulatory requirements in both countries, promoting innovation and regulatory oversight using distributed ledger technology. The initiative seeks to achieve further market transparency and explore how crypto and DLT can lead to more efficient settlement in securities markets.