Bullish
Cambodia Forms 26-Member Task Force to Draft Digital Asset Management Law
13:05
Phnom Penh establishes inter-ministerial group led by MoEF and NBC officials to formulate virtual asset regulations, coinciding with new e-wallet reporting mandates.
Woofun AI reports that Cambodian Prime Minister Hun Manet signed an order on July 8, published August 10, to create an inter-ministerial working group for drafting digital asset laws. The 26-member body is co-chaired by the Secretary of State at the Ministry of Economy and Finance and the Deputy Governor of the National Bank of Cambodia. The group will study domestic and international frameworks, hold internal discussions, and consult partners to produce comprehensive legislation. Separately, the National Bank of Cambodia issued a notice on August 6 requiring unregistered entities issuing electronic wallets to report before conducting transactions.
WOOFUN AI
Impact Assessment · Quick Read
The formation of this high-level task force signals Cambodia's intent to formalize its virtual asset regulatory landscape, moving from ad-hoc measures to structured legislation. With leadership from key financial authorities, the resulting framework could define compliance standards for local exchanges and issuers. The concurrent e-wallet reporting requirement suggests immediate enforcement priorities alongside long-term legislative goals, potentially impacting fintech operations in the region.
Generated by WOOFUN AI · For reference only, not investment advice
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