The Monetary Authority of Singapore and Vietnam’s State Securities Commission have signed a Letter of Intent to collaborate on capital markets regulation and digital asset oversight.
Signing the Agreement
The agreement will help both regulators share information on regulatory frameworks, supervisory practices, and anti-money laundering measures. The letter aims to enhance Vietnam’s capacity to develop its digital asset regulatory framework while fostering deeper cooperation between the two financial authorities.
Deepening Economic Ties
The document was signed against the backdrop of strengthening bilateral economic ties following the upgrade of Singapore-Vietnam relations to a Comprehensive Strategic Partnership. The agreement will also facilitate the exchange of expertise on counter-terrorism financing and market integrity.
Significance of the Agreement
The exchange of the LOI was witnessed by Singapore Prime Minister Lawrence Wong and Vietnam’s General Secretary To Lam during an official visit to Singapore. Singapore’s Assistant Managing Director for Capital Markets, Lim Tuang Lee, emphasized the importance of cross-border financial connectivity, stating that the partnership reflects a shared commitment to market stability. SSC Chairperson Vu Thi Chan Phuong highlighted that the agreement marks a new milestone in Singapore-Vietnam economic cooperation, supporting fair and transparent financial markets.
The agreement between Singapore and Vietnam to collaborate on capital markets and digital assets opens up new opportunities for deepening economic ties and contributes to ensuring market stability and transparency.
