Why the Middle East is being left behind by global climate finance plans 
South Korea to End Short-Selling Ban as Financial Market Uncertainty Persists 
Kakaku.com Shares Rise as Bain Capital and LY Corp Prepare Higher Takeover Bid Than EQT 
Michael Burry Shorts Tesla at $416 as AI and Semiconductor Bearish Bets Expand 
China’s Growth Faces Structural Challenges Amid Doubts Over Data 
Apple Challenges India Antitrust Probe, Says CCI Copied Rivals’ Claims in App Store Case 
Open-Source AI Models Gain Ground as Enterprises Seek Lower-Cost Alternatives, Citi Says 
Anthropic Brings Claude AI Models to Microsoft Azure Foundry With NVIDIA Blackwell GPUs 
Wall Street Rebounds as Investors Eye Tariff Uncertainty, Jobs Report 
Microsoft Reportedly Plans New Job Cuts Across Sales, Consulting, and Xbox 
Home ownership is slipping out of reach. It’s time to rethink our fear of ‘forever renting’ 
UK Markets Face Rising Volatility as Hedge Funds Target Pound and Gilts 
Singapore’s central bank is reportedly planning to establish crypto-related cooperation with Japan and some European nations. Thus, it has teamed up with the monetary authorities in Switzerland, Japan, and the United Kingdom.
The Monetary Authority of Singapore (MAS), the country’s central bank and financial regulator, tapped the said countries to start joint digital assets pilots. To be more exact, the MAS is teaming up with the Financial Services Agency of Japan (FSA), the UK’s Financial Conduct Authority (FCA), and the Swiss Financial Market Supervisory Authority (FINMA) for this project.
Cross-Border Cooperation for Crypto Assets
As per CoinTelegraph, Singapore’s MAS announced its partnership deals with the FSA, FINMA, and FSA on Monday, Oct. 30. With the agreement, they will promote joint crypto pilots together.
The Central Bank of Singapore is pursuing closer cross-border cooperation for its asset tokenization project. It is especially seeking to implement such pilots related to foreign exchange, fixed income, and asset management services.
It was added that this plan is hinged on Singapore’s Project Guardian, which was first launched in 2022. This is an asset tokenization project that has been worked on until now.
“As the pilots grow in scale and sophistication, there is a need for closer cross-border collaboration among policymakers and regulators,” the MAS stated. The Singaporean regulator added that due to this need, it set up the Project Guardian policymaker group, which will consist of the FINMA, FCA, and FSA.
Leong Sing Chong, MAS’ deputy managing director of markets and development, also said, “Through this partnership, we hope to promote the development of common standards and regulatory frameworks that can better support cross-border interoperability, as well as sustainable growth of the digital asset ecosystem.”
The Ultimate Goal of the Joint Crypto Projects
Finally, Crypto News reported that the group’s main goal is to set up a policymaker group that will simplify policy and accounting discussions. This is to make advance decisions on legal, policy, and other things related to digital assets. Lastly, the group will help pinpoint potential risks and legal gaps in the digital assets and tokenized sectors.
Photo by: Joshua Ang/Unsplash
