Singapore and Vietnam Enhance Their Partnership in Capital Markets and Digital Assets Regulation

The Monetary Authority of Singapore (MAS) and the State Securities Commission of Vietnam The SSC has revealed a partnership designed to fortify the stability and integrity of their capital markets while enhancing the ties between the two countries. The focus will primarily be on enriching the regulatory framework for digital assets in Vietnam.

Through a Letter of Intent (LOI), the two agencies will facilitate the sharing of information on capital markets and digital asset regulations. They will also lend their expertise in areas like anti-money laundering and counter-terrorism financing, as well as develop initiatives aimed at enhancing capacity and sharing experiences in regulatory oversight.

MAS and SSC Aim to Deepen Cooperation via LOI

According to a representative from Capital Markets at MAS, Singapore and Vietnam have cultivated a long-standing partnership in capital markets, strengthened through bilateral dialogue and collaboration in various regional and international settings. The signing of the LOI underscores their shared commitment to protecting the integrity and stability of their capital markets while boosting cross-border interactions. This agreement is set to facilitate shared learning and deepen the collaboration between MAS and SSC.

In parallel, Ms. Vu Thi Chan Phuong, Chairperson of the SSC, noted that the relationship between Vietnam and Singapore has developed into a Comprehensive Strategic Partnership, with economic, financial, and investment collaboration becoming more profound and effective.

She emphasized that the LOI represents a significant step forward, establishing a foundation for capital market regulators to boost cooperation, exchange knowledge, and share insights. This effort is expected to contribute positively to the overall growth of the capital market and the digital asset sector, ensuring the financial market's integrity in both nations and the wider region. The LOI is seen as a catalyst for promoting sustainable, stable, fair, and transparent growth in both capital and digital asset markets moving forward.

Last year, the SSC previously engaged in discussions with MAS about exploring potential improvements in the stock market, aiming to refine regulations to better develop the Vietnamese stock market. This endeavor was met with enthusiasm from both sides, who committed to enhancing their cooperation. They also discussed various policies designed to advance the stock market, including pre-trade margin exemptions, central counterparties (CCP), and cleaning and settlement processes. MAS Please be aware that the information contained on this page is not intended to serve as legal, tax, investment, financial, or any other form of advice. It's crucial to only invest what you can afford to lose and to seek independent financial advice if you have any uncertainties. For more details, we recommend referring to the terms, conditions, and support pages provided by the issue or advertiser. MetaversePost is dedicated to delivering accurate and impartial reporting, though market conditions can shift without prior notice.