A joint statement (Statement) on cryptocurrencies has been released by the National Bank of Cambodia, the Securities Exchange Commission of Cambodia and the General-Commissariat of National Police of Cambodia. The Statement reinforces that Cambodian authorities consider activities relating to cryptocurrencies (trading, settling and other activities) that are conducted without an appropriate license to be illegal. Interestingly the Statement names certain cryptocurrencies (including KH Coin, Suncoin, K Coin, One-Coin and Forex coin) that have been observed being traded in Cambodia. This contrasts Cambodia’s reported plans to launch its own cryptocurrency “Entapay”, suggesting that although Cambodia is keen to ensure adequate investor protections and restrictions on cryptocurrency activity, it is at least interested in blockchain’s underlying utility.
