Report: Cambodia Reaffirms Stance Against Unsanctioned Crypto-Related Activities
Cambodian authorities have reportedly said that no cryptocurrency company has been issued a business license yet, and that conducting cryptocurrency-related activities in the country is still illegal. Fintech Industry Growing Rapidly The Cambodian government has not greenlighted the issuing or use of any cryptocurrency in the country, a report has said. The report, which cites a document recently released by the Ministry of Finance and Economics, said it is still illegal to create, distribute, or trade cryptocurrencies in Cambodia. According to a China News Service report, while the....
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Cambodia's central bank - aptly named the National Bank of Cambodia - is refusing to recognize the ever-popular bitcoin as a currency, according to the Phnom Penh Post. The central bank's stance was reportedly confirmed on Wednesday by director-general Chea Serey: "NBC will not recognise a currency that is not issued or backed by a government. Bitcoin's issuer is not a central bank of any jurisdiction," he said. The lack of regulations surrounding the digital currency means that consumers are not protected in instances of fraud and theft, "which has proven to be a daily occurrence in the....
Per a report from TheBlock, the popular crypto exchange FTX is exploring the potential purchase of Bithumb. The South Korean platform will engross the list of the Sam Bankman Fried company’s recent acquisitions. Related Reading | Epic Games CEO Reaffirms NFT Stance After Minecraft Rejection According to the report, FTX has been in talks to acquire […]
Crypto-linked crime from South Korea to Cambodia has skyrocketed 1,400 times in the past year, revealing alarming gaps in anti-money laundering (AML) oversight. Related Reading: Is A Ripple IPO Coming? Garlinghouse Shares New Insights Transfers between the two nations, largely involving USDT stablecoins, have drawn scrutiny after Korean exchanges like Bithumb and Upbit processed billions […]
Cambodia sees Bakong as a critical step in modernizing its payment system and de-dollarizing its economy.
Epic Games CEO Tim Sweeney has responded to Minecraft rejecting NFTs by reaffirming his stance regarding the matter. Minecraft Says No To NFTs, Epic Games Tim Sweeney Keeps Open View A couple of days back, the super popular videogame Minecraft released an official statement in relation to non-fungible tokens and blockchain technology. The company was […]