Cambodia's central bank approves compliance with stablecoin services, but still bans bitcoin
2024-12-27 12:10:13
On December 27th, according to the Phnom Penh Post, the National Bank of Cambodia (NBC) announced that it would allow commercial banks and payment institutions to provide services related to stablecoins and asset-backed cryptocurrencies, but unbacked assets such as bitcoin are still banned. The new regulations require institutions to obtain approval before they can carry out crypto asset exchange, transfer and custody services, and prohibit the use of customer assets. Previously, Cambodia blocked 16 unlicensed crypto trading websites and strengthened the supervision of the digital asset market.
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