There has been an important agreement between Singapore and Vietnam to promote economy and financial cooperation. Singapore’s Financial Authority (MAS) and Vietnam’s Surrounding Securities FEE (SSC) have signed a letter of Intent (Loi) to monitor digital assets and increase cooperation in company markets regulations. This agreement is the purpose of insuring the consignment and stability of the financial markets of both countries. Through this cooperation, transparency, better surveillance mechanisms and anti-mani laundering (AML) capability will be shared between the two countries.
Importance of Financial Cooperation Between Singapore and Vietnam
The main objective of this agreement is to strengthen the regulatory framework for Vietnam’s cryptocurrency. This is a major step for vietnam as it will help adopt more effective policy to control the rapidly developing digital assets market. Sharing information between the two countries will help Vietnam to improve its financial supervision mechanism. If you want to know that What is cryptocurrency So click on the given link.
In addition, this agreement will promote the closure cooperation between the financial regulators of the two countries, which will not only improve financial stability, but will also insure transparency and efficiency in the markets of both countries. Singapore’s Capital Markets Worker Managing Director Lim Tuang Lee stressed the agreement, saying “Financial connectivity across the Borders is important,” this supports cooperation that both countries aim to maintain market stability.
Steps towards new regulatory mechanism for digital assets
An important aspect of this cooperation is about the growing influence of digital assets. As digital currencies and other digital assets are becoming popular throughout the world, their proper monitoring is necessary. Both Singapore and Vietnam are committed to establish a strong regulatory mechanism in this field. Vietnam’s SSC Chairperson, Vu Thi Chanh Phuong said that the agreement is the beginning of a new chapter that will further strengthen the financial relationships of both countries.
Under the agreement, the financial institutions and regulatory institutions of the two countries will share each other’s best experience. This will help in creating a secure and transparent environment between the two countries in the field of digital assets, which will also strengthen the confidence of the investors.
El Salvador and Paraguay made important compromises on digital assets
Recently, Latin America has also signed important agreements related to cryptocurrency. El Salvador and Paraguay signed a Crypto Promise The aim is to increase cooperation in the fields of digital assets, blockchain technology and financial increases, which will develop Crypto industry in both countries.
Conclusion
The agreement between Singapore and Vietnam aim to promote stability and transparency of financial markets of both countries. The agreement is an important step for the two countries, especially in view of the increasing influence of digital assets. This partnership of Singapore and Vietnam will promote a Secure and Strong Financial Environment, which will not only be the economy of the two countries but also for the antifyg. The agreement indicates that the two countries are ready to contribute significantly to global financial landscape and are committed to play a lead role in digital assets regulations.
