By Anthony • December 27, 2024 9:14 am •
The National Bank of Cambodia has approved stablecoin services for cryptocurrencies such as USD Coin and Tether.
The bank, however, will not approve services for unbacked assets such as Ethereum and Bitcoin.
Under the Cambodian government’s new rule, commercial banks must obtain approval before offering services.
📢 JUST IN: NATIONAL BANK OF CAMBODIA APPROVES COMPLIANT STABLECOIN SERVICES, PROHIBITS UNBACKED ASSETS LIKE $BTC
— BSCN Headlines (@BSCNheadlines) December 27, 2024
Regulated cryptocurrency assets approved for operation in Cambodiahttps://t.co/4M2Ps8jALP
— The Phnom Penh Post (@phnompenhpost) December 27, 2024
Per Coinpedia:
In the latest development, The National Bank of Cambodia has approved compliant stablecoin services but bans unbacked assets like BTC.
The Central Bank of Cambodia now
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