The State Securities Commission of Vietnam (SSC) and Monetary Authority of Singapore (MAS) on March 12 agreed to cooperate in safeguarding the integrity and stability of the countries’ capital markets, while fostering their connectivity.

This collaboration will focus on strengthening the regulatory framework for digital assets in Vietnam.

Their signing of a Letter of Intent (LOI) facilitates information exchange on regulatory structures for capital markets and digital assets, the sharing of best practices in anti-money laundering and counter-terrorism financing, as well as capacity-building initiatives and expertise-sharing in the regulation and oversight of capital markets and digital assets.

Lim Tuang Lee, MAS Assistant Managing Director (Capital Markets Group), stated that the countries share a longstanding partnership in capital markets, strengthened through bilateral engagements and collaboration at various regional and international forums. He noted that the signing of the LOI highlights mutual commitment to safeguarding the integrity and stability of their capital markets while enhancing cross-border connectivity. The LOI would facilitate mutual learning and deepen collaboration between MAS and the SSC.

Vu Thi Chan Phuong, SSC Chairwoman, noted that Vietnam and Singapore have elevated their relationship to a Comprehensive Strategic Partnership, with economic, financial, and investment cooperation becoming increasingly profound and effective.

She expressed confidence that the LOI will provide a solid foundation for both capital market regulators to enhance cooperation, exchange expertise, and share experiences. This, she added, would contribute to the overall development of the capital market and the digital asset sector, ultimately ensuring the integrity of the financial markets in both countries and the broader region.

The LOI is anticipated to promote stable, fair, transparent, and sustainable growth in the capital and digital asset markets of both nations moving forward, she said./.
 
Source: en.vietnamplus.vn/vietnam-singapore-strengthen-cooperation-in-capital-market-digital-asset-regulation-post311465.vnp