UK and Singapore Forge New AI and Tokenization Pact in London Talks

British and Singapore officials met in London for 10 this week. Financial dialogue in the UK, using interviews to align access to digital finances, including tokenized property and artificial intelligence.

Held on Wednesday, meeting They brought together representatives of the British body for financial behavior and monetary authority of Singapore, as well as other financial and regulatory representatives.

Two countries agreed to continue working together on Project Guardian, a joint initiative between a regulator and an investment sector aimed at testing the actual potential of tokenized financial assets.

The next phase will include a closer cooperation with industrial groups such as the United Kingdom of the Singapore Investment Association, with an emphasis on how tokenization could reshape invests from a client’s perspective.

Discussions were also touched by Global Layer One initiative, which is both nations back. The UK shared its early experience with the project, while Singapore provided updates about progress.

GL1 aims to create shared books of a book that allow trading tokenized assets across boundaries with reduced technical and regulatory barriers.

New Age

In addition to the promise of digital innovation, conversations also show that governments face rapidly developing regulatory challenges in digital space.

Singaporean recent tension Rules for the exchange of cryptocurrencies – announced just a few days earlier – have been concerned about the country because of the risk of financial crime and instability of the crypt -related market.

In the meantime, the UK is trying to establish a balance between stimulating the growth of the technological sector and preventing abuse, especially in the AI ​​area.

Artificial intelligence has attracted significant attention during the conversation.

FCA and MAS have examined the state of adopting AI in the financial sector, including current applications, risks and obstacles for further introduction.

Both sides agreed to launch a formal collaboration on AI, starting with the Ai innovation window in London on Wednesday, which highlighted the tools and services of the financial sector developed in both countries.

The UK, which recorded the increase in political focus on AI, launched an action plan to increase economic growth through AI and digital infrastructure. In January, Labor Government exposed Ai growth zones and a national data library.

However, the efforts to allow the developers to minimize the contents of the copyright protected rights for the purpose of training have faced a fierce opposition.

The proposed change in the UK data (use and access) was rejected for the fourth time last month at the Lord House after the public reaction and warning of musicians and artists about threats to creative rights.

Singapore, on the other hand, opted for a lighter touch.

Although there is no AI -specific laws yet, the Government has issued a package of ethical guidelines and practical tools for managing responsible development without suffocation of innovation.

Edited Sebastian Sinclair