{"id":20019,"date":"2024-12-10T20:32:13","date_gmt":"2024-12-11T01:32:13","guid":{"rendered":"https:\/\/sikaoer.com\/cambodia-crackdown-locks-out-16-crypto-exchanges\/"},"modified":"2024-12-10T20:32:13","modified_gmt":"2024-12-11T01:32:13","slug":"cambodia-crackdown-locks-out-16-crypto-exchanges","status":"publish","type":"post","link":"https:\/\/sikaoer.com\/cambodia-crackdown-locks-out-16-crypto-exchanges\/","title":{"rendered":"Cambodia crackdown locks out 16 crypto exchanges"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div data-site=\"CoinJournal\">\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\" data-site=\"CoinJournal\">\n<p>    \n                    <\/div>\n<ul>\n<li>Cambodia has intensified its digital assets regulatory measures<\/li>\n<li>It has placed a ban on 16 popular cryptocurrency exchange platforms<\/li>\n<\/ul>\n<p>Cambodia has reportedly blocked the websites of 16 crypto exchanges amid regulatory efforts to combat potential crypto-related crime. Among those blocked are Binance and Coinbase.<\/p>\n<p>Binance is the world\u2019s largest cryptocurrency exchange by trading volume and global user count, while Coinbase is the largest US-based crypto exchange.<\/p>\n<h2>Cambodia\u2019s crackdown on unregistered exchanges<\/h2>\n<p>In a move to regulate the crypto space, the Cambodian government requires the exchanges to obtain a legal licence from the country\u2019s Security and Exchange Regulator and the said exchanges failed to do so.<\/p>\n<p>The Telecommunication Regulator of Cambodia (TRC) cited that the 102 sites banned were linked to online gambling. Shockingly, Binance which had signed a partnership with the Cambodian authorities in 2022, is among those whose sites are inaccessible following the TRC ban.<\/p>\n<p>However, despite this ban, most of the banned exchanges\u2019 mobile apps remain functional.<\/p>\n<p>The National Bank of Cambodia banned the use of cryptocurrency in 2017 though citizens continued to gamble and do online exchanges of the said digital assets. The recent ban, as Nikkei Asia reported, is because the exchanges lack the licenses as required by TRC.<\/p>\n<p>Despite the unfolding development, exchanges and other platforms play a huge role in the development of the country\u2019s growing digital assets economy<\/p>\n<h2>Binance presence in Cambodia<\/h2>\n<p>In 2022, Binance signed an agreement with SERC to support Cambodia\u2019s digital assets. The exchange went further to cement its presence in the country with a partnership with the conglomerate Royal Group.<\/p>\n<p>Binance is among multiple exchanges that also faced a similar scenario to that reported in Cambodia earlier this year.<\/p>\n<p>In January 2024, Indian authorities banned several platforms for failing to register.<\/p>\n<p>This came a few days after India\u2019s Financial Intelligence Unit pushed for the removal of exchange apps of several crypto exchanges from the Apple App Store and Google Play Store. It wasn\u2019t until August 2024 that Binance officially re-entered the Indian market, paying a $2 million penalty in the process.<\/p>\n<div class=\"post-meta\">\n<p>                        Share this articleCategoriesTags\n                    <\/p><\/div><\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/cambodia-crackdown-locks-out-16-crypto-exchanges\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cambodia has intensified its digital assets regulatory measures It has placed a ban on 16 popular cryptocurrency exchange platforms Cambodia has reportedly blocked the websites of 16 crypto exchanges amid regulatory efforts to combat potential crypto-related crime. Among those blocked are Binance and Coinbase. Binance is the world\u2019s largest cryptocurrency exchange by trading volume and [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":20020,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[42],"tags":[],"class_list":["post-20019","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-regulation"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.6 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Cambodia crackdown locks out 16 crypto exchanges - Sikaoer - The Best Crypto News Site.<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/sikaoer.com\/cambodia-crackdown-locks-out-16-crypto-exchanges\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cambodia crackdown locks out 16 crypto exchanges\" \/>\n<meta property=\"og:description\" content=\"Cambodia has intensified its digital assets regulatory measures It has placed a ban on 16 popular cryptocurrency exchange platforms Cambodia has reportedly blocked the websites of 16 crypto exchanges amid regulatory efforts to combat potential crypto-related crime. Among those blocked are Binance and Coinbase. 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