HM Treasury and MAS Strengthen Collaboration in Sustainable Finance and FinTech with Joint Statement on Blockchain Innovations
📍UK 🇬🇧 + Singapore 🇸🇬: Yesterday morning, HM Treasury published a joint statement with the Monetary Authority of Singapore (MAS) on strengthening collaboration in sustainable finance and FinTech, which includes updates from HMT on Blockchain, Cryptoassets, and a Central Bank Digital Currency.
Specifically on Blockchain, the statement reads:
Tokenisation and distributed ledger technology (DLT):
‘The UK and Singapore shared their respective projects and initiatives in tokenisation and DLT and agreed on the benefits of asset and fund tokenisation to the financial ecosystem, from broadened investor access to investment products to simplifying distribution and trading of such products digitally. As part of Project Guardian’s policymaker group, the UK Financial Conduct Authority (FCA) and MAS, together with the other policymakers, aim to advance discussions on the regulatory treatment of digital assets. Both countries agreed to share learnings on how regulatory regimes could facilitate responsible innovation.’
The Dialogue was jointly chaired by Deputy Managing Director (Markets and Development) of MAS, Mr Sing Chiong Leong and Director General (Financial Services) of HM Treasury (HMT), Ms Gwyneth Nurse . The Dialogue was attended by senior officials from MAS, HMT, Bank of England, Financial Conduct Authority, the High Commission of the Republic of Singapore in London, and the British High Commission in Singapore.
Last month, The British Blockchain Association hosted its Annual Blockchain International Conference in Singapore and contributed to the advancement of UK-Singapore collaboration in the field of Blockchain and Digital Assets. Mr Sopnendu Mohanty spoke at the event highlighting the role of Blockchain Technologies for FinTech ecosystems:
