The very recent collapse of the FTX Ltd crypto-exchange platform has brought back to the fore the critical issue of resilient regulatory design in a context of popular but still untested, financial technological innovations. In a context where varying ideas over the governance of crypto abound, and where certain financial regulators are perceived as having rightly eschewed some of the pressures to jump systematically on the bandwagon of financial innovation, debates are likely to move quickly from issues of regulatory benevolence towards innovation to the very substance of regulatory arrangements for financial technological innovations. Against this rapidly evolving backdrop, this piece capitalizes on ongoing, heightened attention to financial regulatory initiatives to revisit regulatory sandbox, an early regulatory “scheme set up to prove regulated and unregulated entities with an opportunity to test, pursuant to a testing plan agreed and monitored by a relevant authority, innovative products or services, business models or delivery mechanisms related to the carrying out of financial services”.