On 26 December 2024, the National Bank of Cambodia (NBC) issued a regulation to manage crypto asset transactions and activities under its supervision. The regulation applies to commercial banks, payment service institutions, and entities acting as crypto asset service providers (CASPs), requiring prior authorization or licensing for crypto asset-related activities.
Key Takeaways:
– Clear classification and governance of crypto assets to minimize risks.
– Stringent regulatory requirements for banks and CASPs, with an emphasis on transparency, stabilization, and legal enforceability.
– Significant penalties for non-compliance to ensure adherence.
