A report published by The Phnom Penh Postsuggests that Cambodia’s virtual currency industry is pressing forward in spite of the regulatory ambiguity surrounding cryptocurrencies in the country.The founder of the Khmer Crypto Foundation, In Mean, told local media that individuals operating in Cambodia’s cryptocurrency sector do so with great care due to the legal uncertainty. “It’s not clear yet whose job it is to regulate cryptocurrencies,” Mr. Mean said. “It could fall to the [National Bank of Cambodia (NBC)] or the [Securities and Exchange Commission of Cambodia (SECC)], but it’s not clear yet which one it will be.”Although Cambodia has not explicitly outlawed the possession cryptocurrencies, Cambodia’s government announced the prohibition of “all banks and microfinance institutions from trading, buying, selling and advertising cryptocurrencies,” in December 2017.
