The Monetary Authority of Singapore (MAS) and Vietnam’s State Securities Commission (SSC) have signed a Letter of Intent (LOI) to enhance collaboration in capital markets regulation and digital asset oversight.
The deal seeks to improve the integrity and stability of both countries’ financial markets by providing for the sharing of information on supervisory practices, regulatory systems, and anti-money laundering capabilities.
The LOI aims to enhance Vietnam’s ability to enhance its regulatory framework for digital assets and to encourage closer cooperation between the two financial regulators.
This is in addition to sharing experience on supervisory mechanisms and coordinating with the general strengthening of Singapore-Vietnam economic relations, following the promotion of Singapore-Vietnam ties to a Comprehensive Strategic Partnership.
During an official visit to Singapore, Vietnam’s General Secretary To Lam and Singapore Prime Minister Lawrence Wong witnessed the signing of the LOI.
Singapore’s Assistant Managing Director for Capital Markets Lim Tuang Lee stressed cross-border financial connectivity is crucial, and the collaboration reflects a mutual determination for market stability.
The agreement supports transparent and equitable financial markets and represents a new chapter in Singapore-Vietnam economic cooperation, according to SSC Chairperson Vu Thi Chan Phuong.
This collaboration underscores both countries’ dedication to fostering a secure and robust financial environment, particularly in the rapidly evolving digital asset sector.
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