🚀 Cambodia officially gives the green light to Crypto!

For the first time, the National Bank of Cambodia (NBC) allows commercial banks and payment institutions to provide services related to secured crypto, typically stablecoins. But unsecured cryptocurrencies like Bitcoin are still completely banned!

💼 Allowed services:
• Convert crypto to fiat currency (and vice versa),
• Transfer crypto between accounts,
• Custody of crypto assets.
• However, units are NOT allowed to arbitrarily use customer crypto for personal purposes.

Previously, Cambodia said no to crypto because of concerns about risks such as money laundering or fraud. But now, to keep up with global financial trends, they have begun to partially open up to access this nascent market.