Summary: Vietnam and Singapore have signed a Letter of Intent (LOI) to collaborate on digital asset regulation and the regulation of capital markets. The agreement, signed between the Monetary Authority of Singapore (MAS) and Vietnam’s State Securities Commission (SSC), is intended to facilitate regulatory cooperation as well as the sharing of information.
This partnership will help Vietnam develop its regulatory system for digital assets and deepen cooperation in combating money laundering and counter-financing of terrorism. It is harmonious with the other economic ties between both nations, following an upgrade to Comprehensive Strategic Partnership.
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The signing of the LOI during a Singapore official visit was attended by Singapore Prime Minister Lawrence Wong and Vietnam General Secretary To Lam.
MAS Assistant Managing Director Lim Tuang Lee emphasized cross-border financial interconnectivity as key, while SSC Chair Vu Thi Chan Phuong characterized the agreement as a significant step towards promoting economic cooperation and having transparent financial markets.
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