Digital Asset Collaboration Pact Signed Between Singapore and Vietnam

The Monetary Authority of Singapore (MAS) and Vietnam's State Securities Commission (SSC) have entered into a Letter of Intent (LOI) to collaborate on capital markets regulation and digital asset supervision.

This cooperation aims to enable the two regulatory bodies to exchange information regarding regulatory frameworks, supervisory practices, and anti-money laundering measures.

The LOI seeks to bolster Vietnam's ability to establish its digital asset regulatory framework, as well as promote closer collaboration between the two financial authorities. It will facilitate the sharing of expertise in oversight matters.

Prime Minister Lawrence Wong of Singapore and General Secretary To Lam of Vietnam witnessed the exchange of the LOI during an official visit to Singapore. Today, I welcomed General Secretary of the Communist Party of Vietnam, To Lam, on his first Official Visit to Singapore. His visit is especially meaningful as Singapore marks 60 years of independence, while Vietnam commemorates its 80th anniversary.

The agreement coincides with the broader enhancement of bilateral economic ties following the elevation of Singapore-Vietnam relations to a Comprehensive Strategic Partnership. It will also facilitate the exchange of expertise in counter-terrorism financing and market integrity.

The exchange of the LOI took place in the presence of Singapore Prime Minister Lawrence Wong and Vietnam’s General Secretary To Lam during an official visit to Singapore.

Lim Tuang Lee, Assistant Managing Director for Capital Markets at MAS, emphasized the significance of cross-border financial connectivity, stating that the partnership demonstrates a mutual commitment to maintaining market stability.

Vu Thi Chan Phuong, Chairperson of the SSC, emphasized that the agreement represents a new milestone in Singapore-Vietnam economic cooperation, fostering fair and transparent financial markets.