News View Non-AMP

National Bank of Cambodia Allows Stablecoin Services, Tightens Crypto Regulations

Published by
Nidhi Kolhapur

In the latest development, The National Bank of Cambodia has approved compliant stablecoin services but bans unbacked assets like BTC. 

Cambodia Approves Stablecoin Services While Upholding Bitcoin Ban

The Central Bank of Cambodia now allows commercial banks and payment institutions to provide services involving Category 1 cryptocurrencies, i.e., backed or stable cryptocurrencies. However, unbacked cryptocurrencies, such as Bitcoin, remain prohibited.

The development was formalized in a prakas issued on December 26 and announced by NBC on December 27 as reported by The Phnom Penh post. The directive aims to regulate operations and businesses involving digital currencies, reflecting the country’s effort to keep pace with global financial innovations.

National Bank of Cambodia Introduces Strict Rules for Crypto Services

Under the new directive from the National Bank of Cambodia (NBC), commercial banks and payment institutions must obtain prior approval to offer crypto-related services. Authorized institutions can engage in activities such as exchanging crypto assets for fiat currencies, transferring crypto between accounts, and providing custody services. However, they are explicitly prohibited from using their customers’ crypto assets for their own purposes.

Historically, Cambodia has banned cryptocurrency transactions and trading due to concerns about high risks, including money laundering, fraud, and illicit activities in the black market.

Economic researcher Hong Vanak of the Royal Academy of Cambodia noted the growing global popularity of cryptocurrencies, which are used not only for payments but also traded like stocks due to their highly volatile prices, particularly unbacked cryptocurrencies.

  • Also Read :

Vanak argued that cryptocurrencies provide limited benefits to Cambodia’s national economy due to their digital and decentralized nature, which makes regulation, taxation, and ownership tracking challenging. However, he acknowledged that commercial banks and institutions offering crypto asset services could generate revenue through user fees.

Nidhi Kolhapur

Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain.

Recent Posts

Trending Alternative Crypto to Dogecoin (DOGE) Set to Turn $650 into $65,000 in 4 Months

Few tokens have stirred as much chaos and charm as Dogecoin. What started as a…

July 4, 2025

Top 2 Cryptos Under $0.10 to Buy in July, Both Tipped to Double

With July heating up, the spotlight is shifting to lesser-known tokens under $0.10 that offer…

July 4, 2025

Bitcoin Sets the Macro Tone, But Lightchain AI Sets the Fire That Smaller Investors Are Running Toward

Bitcoin continues to set the macro tone for the cryptocurrency market, influencing broad investor sentiment…

July 4, 2025

Ethereum Holds Its Rank, But Lightchain AI Holds the Heat With Tactical Movement Into Final Presale Stage

Ethereum continues to hold its rank as a leading blockchain platform, maintaining strong developer engagement…

July 4, 2025

Analysts Predict Major July Explosion for Neo Pepe Coin ($NEOP) Among Best Crypto Meme Coins

Crypto Presales Heat Up—High-Utility Coins Dominate As July unfolds, crypto markets are abuzz with growing…

July 4, 2025

Russia to launch Its Own Ruble-backed Stablecoin, RT-Pay Payment Platform

Russia’s state-owned technology giant Rostec is stepping into the digital finance space with big plans.…

July 4, 2025