The Monetary Authority of Singapore (MAS) and Vietnam’s State Securities Commission (SSC) have made a significant leap in enhancing their financial cooperation by signing a Letter of Intent aimed at improving capital markets regulation and digital asset oversight. This agreement, reached on March 12, 2025, marks a pivotal moment in the ongoing evolution of digital finance in Southeast Asia.
This collaborative effort is designed to share vital information regarding regulatory frameworks, supervisory practices, and best methods for anti-money laundering measures. By exchanging insights, both countries aim to strengthen Vietnam’s regulatory framework for digital assets, as well as enhance the cooperation between their respective financial oversight authorities.
During the official signing ceremony in Singapore, attended by Singapore’s Prime Minister Lawrence Wong and Vietnam’s General Secretary To Lam, the importance of this partnership was underscored. Prime Minister Wong remarked on the significance of this collaboration not just for regulatory purposes but also as a reflection of the deepening ties between Singapore and Vietnam amidst their respective anniversaries of independence.
The agreement is complementary to the upgrading of Singapore-Vietnam relations to a Comprehensive Strategic Partnership and further facilitates the mutual exchange of expertise in addressing counter-terrorism financing and ensuring market integrity. This reflects a shared commitment to fostering stable and secure financial markets across both nations.
Lim Tuang Lee, MAS’s Assistant Managing Director for Capital Markets, highlighted that this partnership is a testament to the commitment of both nations to enhance cross-border financial connectivity. The SSC Chairperson Vu Thi Chan Phuong also expressed optimism, deeming the agreement a leap forward for economic cooperation between Singapore and Vietnam, fostering markets that are both fair and transparent.
In conclusion, as digital assets continue to reshape the financial landscape, such collaborations will be essential for maintaining robust regulatory environments that can adapt to the rapid pace of innovation while ensuring investor protection and market stability.
