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Cambodia's central bank approves compliant stablecoin services, but still bans Bitcoin

On December 27, according to Phnom Penh Post, the National Bank of Cambodia (NBC) announced that it would allow commercial banks and payment institutions to provide services related to stablecoins and asset-backed cryptocurrencies, but unsupported assets such as Bitcoin are still banned. The new regulations require institutions to obtain approval before conducting crypto asset exchange, transfer and custody services, and prohibit the use of customer assets. Previously, Cambodia blocked 16 unlicensed crypto trading websites and strengthened supervision of the digital asset market.

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