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Cambodia approves stablecoins but bans Bitcoin

Cambodia’s National Bank has approved Category 1 crypto assets, aligning with global trends. However, unbacked cryptocurrencies like BTC remain banned. Institutions must get approval to operate, ensuring regulation and consumer protection in dealing with digital currencies.

Access to 16 cryptocurrency exchanges, including Binance, is restricted. This crackdown is part of Cambodia’s regulatory efforts on digital assets. Despite these restrictions, mobile access remains, with only two firms licensed under the FinTech Sandbox for digital trading.

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