The National Bank of Cambodia mandates licensing for digital asset activities, emphasizing compliance to ensure financial stability.
Licensing Now Mandatory for Crypto Activities in Cambodia
The National Bank of Cambodia (NBC) has introduced regulations requiring licensing for all crypto-related activities, including trading, fund mobilization, and settlements. The directive, issued on Dec. 26, targets unregulated operations in the digital asset sector.
Penalties for Unauthorized Transactions
Engaging in crypto transactions without proper authorization may result in legal penalties. The NBC urges the public to report any suspicious activities to support regulatory efforts.
Focus on Financial Stability and Transparency
The new measures aim to mitigate risks associated with unregulated digital asset activities. By enforcing compliance, the NBC seeks to strengthen financial stability and promote transparency in Cambodia’s growing crypto market.
Public Advised to Exercise Caution
The central bank advises individuals and businesses to avoid unauthorized crypto dealings. The regulation underscores Cambodia’s commitment to creating a safer digital asset ecosystem.
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