Vietnam and Singapore promote collaboration in capital market and digital asset management

The Monetary Authority of Singapore (MAS) and the State Securities Commission of Vietnam (SSC) have agreed to collaborate on building capacity to protect the integrity and stability of, and promote connectivity between, the capital markets of the two countries.

The two agencies agreed to collaborate on capacity building in support of the development of the digital asset regulatory framework for Vietnam.

The two sides signed a Letter of Intent (LOI) in Singapore on March 12 on the occasion of  Party General Secretary To Lam’s official visit to the city state.

The LOI will facilitate the sharing of information on regulatory frameworks for capital markets and digital assets, sharing of experience in anti-money laundering and counter-terrorism financing, and building of capacity as well as mutual sharing of experiences and frameworks for the regulation and supervision of capital markets and digital assets.

Mr Lim Tuang Lee, Assistant Managing Director (Capital Markets), MAS, said: “The exchange of this LOI reflects our commitment to support each other to protect the integrity and stability of our capital markets while promoting cross-border connectivity. This LOI will also allow MAS and SSC to learn from each other and foster deeper collaboration.”

Ms Vu Thi Chan Phuong, Chairperson of SSC said: “This LOI continues to affirm a new step forward, creating an important foundation for the two capital market regulators to strengthen cooperation, exchange expertise and share experiences to contribute to the development of the capital market in general and the digital asset market in particular, contributing to the goal of ensuring the integrity of the financial markets of the two countries and the region.”