The National Bank of Cambodia has permitted stablecoins as Class 1 assets for banks. This move is aimed at supporting advanced payment methods. Despite this progress, Bitcoin is still banned, reflecting a cautious regulatory approach to cryptocurrency adoption in Cambodia.
Concerns over organized crime and tax management hinder broader crypto acceptance. An $11 billion darknet trade in Cambodia highlights illegal uses, reinforcing regulatory skepticism. Despite this, stablecoins could yield new revenues for banks through transaction fees, signaling potential for careful policy expansion.
Leave a Reply