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To conduct crypto-currency operations in Cambodia will have to obtain a license

The authorities intend to take control of actively growing trading.

20.Jun.18 8:34 AM
By Shawn Highstraw


To conduct crypto-currency operations in Cambodia will have to obtain a license
The governments of a number of countries took a rather tough position with respect to crypto-currencies. In some countries, the authorities have already passed laws regulating the developing market, while so far only work is underway to create a regulatory framework. Either way, the authorities do not want to let the situation go by themselves, because they see the objective shortcomings of virtual money and constantly talk about it. In particular, digital assets are criticized by officials because of volatility and anonymity. Do not like regulators and the fact that transactions with crypto-currencies are quite difficult to subordinate to tax legislation.

In Cambodia, the authorities found a solution in order to be aware of all transactions with virtual currency. The central bank of the state reported on the need to obtain a special license for those who plan to conduct the relevant transactions. Representatives of the regulator explained that they went to such measures because of too active growth of trading.

Thus, the regulations of the Cambodian government will treat illegal sale, purchase, promotion and any payments in crypto-currencies in the absence of proper authorization.

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