UK and Singapore Forge New AI and Tokenization Pact in London Talks
British and Singaporean officials convened for the 10th UK-Singapore Financial Dialogue in London, focusing on digital finance, tokenized assets, and artificial intelligence. Representatives from the UK’s Financial Conduct Authority and the Monetary Authority of Singapore participated. Both countries agreed to advance Project Guardian, which tests tokenized financial assets, collaborating with industry groups like the UK Investment Association. Discussions included the Global Layer One initiative, aimed at creating shared ledger systems for cross-border trading of tokenized assets. Singapore's recent tightening of crypto exchange regulations reflects concerns about financial crime and market instability. The UK seeks to balance tech growth with regulatory oversight, particularly regarding AI. Both nations will collaborate formally on AI, starting with an AI Innovation Showcase in London. The UK has launched an action plan for AI growth, while Singapore has issued ethical guidelines for responsible AI development without specific laws.
