In a world where the digital realm often feels like a chaotic bazaar, the Monetary Authority of Singapore and Vietnam’s State Securities Commission have decided to put on their regulatory capes. They’ve signed a Letter of Intent, a fancy term for “let’s try to figure this out together,” to collaborate on capital markets regulation and digital asset oversight. 🦸♂️🦸♀️
This agreement is not just a handshake over coffee; it’s a promise to share secrets—regulatory frameworks, supervisory practices, and even those pesky anti-money laundering measures. Because who doesn’t love a good game of “let’s see who can catch the bad guys first”? 😏
The letter aims to enhance Vietnam’s capacity to develop its digital asset regulatory framework while fostering deeper cooperation between the two financial authorities. It’s like a buddy cop movie, but with more spreadsheets and fewer car chases. 🚓💨
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.
— Lawrence Wong (@LawrenceWongST) March 12, 2025
The agreement aligns with the broader strengthening of bilateral economic ties, following the upgrade of Singapore-Vietnam relations to a Comprehensive Strategic Partnership. It’s like moving from “just friends” to “it’s complicated” on social media. 📱💔
It will also facilitate the exchange of expertise on counter-terrorism financing and market integrity. Because nothing says “we’re serious” like a good old-fashioned exchange of knowledge on how to keep the bad guys at bay. 🕵️♂️
The exchange of the LOI was witnessed by Singapore Prime Minister Lawrence Wong and Vietnam’s General Secretary To Lam during an official visit to Singapore. Talk about a photo op! 📸
Singapore’s Assistant Managing Director for Capital Markets, Lim Tuang Lee, emphasized the importance of cross-border financial connectivity, stating that the partnership reflects a shared commitment to market stability. Because if there’s one thing we can all agree on, it’s that a stable market is a happy market. 🎉
SSC Chairperson Vu Thi Chan Phuong highlighted that the agreement marks a new milestone in Singapore-Vietnam economic cooperation, supporting fair and transparent financial markets. And let’s be honest, who doesn’t want a little fairness in their financial dealings? 🙌
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2025-03-12 17:03