Singapore And Vietnam Strengthen Collaboration In Capital Markets Regulation And Digital Asset Framework
In Brief
The Monetary Authority of Singapore and the State Securities Commission of Vietnam partnered to enhance the integrity and stability of their capital markets while strengthening the regulatory framework for digital assets in Vietnam.
The Monetary Authority of Singapore (MAS) and the State Securities Commission of Vietnam (SSC) have announced a partnership aimed at enhancing the integrity and stability of their capital markets while fostering connectivity between the two nations. This collaboration will focus on strengthening the regulatory framework for digital assets in Vietnam.
Through a Letter of Intent (LOI), both agencies will promote the exchange of information regarding regulatory structures for capital markets and digital assets. Additionally, they will share expertise in areas such as anti-money laundering and counter-terrorism financing, as well as develop capacity-building initiatives and mutual experiences in the regulation and oversight of capital markets and digital assets.
MAS And SSC To Expand Cooperation With LOI
Representative of Capital Markets at the MAS, stated that Singapore and Vietnam have a longstanding partnership in capital markets, which has been reinforced through bilateral engagements and cooperation at various regional and international forums. He noted that the signing of the LOI highlights their mutual commitment to safeguarding the integrity and stability of their capital markets while enhancing cross-border connectivity. LOI would facilitate mutual learning and deepen collaboration between MAS and the SSC.
Meanwhile, Ms. Vu Thi Chan Phuong, Chairperson of the SSC, remarked that the relationship between Vietnam and Singapore has evolved into a Comprehensive Strategic Partnership, with economic, financial, and investment cooperation becoming increasingly profound and effective.
She indicated that the LOI marks an important advancement, laying a 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. LOI is anticipated to promote stable, fair, transparent, and sustainable growth in the capital and digital asset markets of both nations moving forward.
Last year, the SSC engaged in discussions with MAS regarding the potential for the stock market, seeking MAS‘s assistance in refining regulations to promote the development of the Vietnamese stock market. This initiative received a favorable response, with both parties expressing a commitment to enhance cooperation. They also deliberated on various policies aimed at developing the stock market, including topics such as pre-trade margin exemptions, central counterparty partners (CCP), and clearing and settlement processes.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
