Singapore: Issued UK-Singapore Joint Statement on Financial Partnership for Financial Services

On 30 June 2021, the Chancellor of the Exchequer, Rishi Sunak, and Singapore’s Senior Minister and Chairman of the Monetary Authority of Singapore, Tharman Shanmugaratnam, announced a financial partnership between the UK and Singapore. The agreement will support increased financial services activity between the two countries. The parties also signed a Memorandum of Understanding (MoU), where the two parties agree to regulatory cooperation and deference in all areas affecting financial services including fintech and crypto-assets.