National Bank of Cambodia Approves Category 1 Stablecoin Services, Prohibits Bitcoin on December 27, 2024

The National Bank of Cambodia (NBC) has approved the use of compliant stablecoin services by commercial banks and payment institutions, while prohibiting unbacked cryptocurrencies such as Bitcoin. This decision marks a significant regulatory step in the country's approach to digital assets. The NBC has classified the approved assets as Category 1 crypto assets, which include secured or stablecoins. This new regulation is the first of its kind in Cambodia, as reported by local media.

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