Cambodia approves commercial banks and payment institutions to provide cryptocurrency services, including stablecoins and collateralized cryptocurrencies

ChainCatcher news, the National Bank of Cambodia (NBC) has approved commercial banks and payment institutions to provide services related to stablecoins or collateralized cryptocurrencies. This is the first time NBC has approved such services, with relevant instructions issued on December 26 and announced on December 27. However, Bitcoin remains prohibited.

According to the new regulations, institutions must obtain prior approval from NBC to conduct cryptocurrency asset exchanges, inter-account transfers, and custody services.