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Cambodia Restricts Crypto Exchange Access
The country blocked access to 16 cryptocurrency exchanges including Binance and Coinbase.
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Cambodia has blocked access to 16 cryptocurrency exchanges, including Binance and Coinbase, citing regulatory compliance issues. The move underscores the nation’s tightening stance on curtailing crypto activity, despite its high retail crypto adoption.
What's the Scoop?
- Cambodia blocked 16 exchange websites, citing "lack of licenses" but mobile apps remain accessible despite the website restrictions.
- Only two firms hold licenses under Cambodia’s FinTech Sandbox but face severe trading limitations. These licensed entities can trade digital assets but cannot exchange them for Cambodia’s legal tender or other fiat currencies.
Bankless Take
Cambodia’s restrictions highlight the friction between organic crypto adoption and regulatory overreach. Blocking websites without robust alternatives could push users toward less secure platforms or decentralized solutions. As retail crypto adoption grows, responsible regulatory clarity will be pivotal to ensure both compliance and innovation.