Regulatory Sandbox as a Hybrid Legal Policy Instrument: Recalibrating Legal Certainty and Financial Sector Growth in Indonesia

The expansion of financial technology in Indonesia has required regulatory adaptation capable of reconciling innovation with legal certainty and prudential supervision. The regulatory sandbox introduced under OJK Regulation Number 3 of 2024 operates as a structured and time-bound experimentation mechanism embedded within statutory authority under Law Number 21 of 2011 and Law Number 4 of 2023. This article examined the sandbox as a hybrid legal policy instrument and evaluated its implications fo...