Cambodia's Central Bank Approves Limited Crypto Services

According to Foresight News, the National Bank of Cambodia (NBC) has authorized commercial banks and payment institutions to offer services related to Category 1 crypto assets, including stablecoins and secured cryptocurrencies. However, the use of unsecured cryptocurrencies like Bitcoin remains prohibited. This directive, issued on December 26 and announced on December 27, aims to regulate digital currency operations in line with global financial trends. Institutions must obtain approval from NBC to conduct crypto-to-fiat exchanges, inter-account transfers, and custody services. Additionally, institutions are prohibited from using customers' crypto assets for their own purposes.