iBNB

Cambodia has blocked access to 16 cryptocurrency exchanges, including major players like Binance and Coinbase according to the Nikkei <a href="https://asia.nikkei.com/Spotlight/Cryptocurrencies/Cambodia-blocks-access-to-16-crypto-exchange-websites" rel="noopener noreferrer nofollow">report</a>. Authorities aim to control the industry and address rising concerns over crypto-related fraud.The Telecommunication Regulator of Cambodia (TRC) issued a directive to block 102 domains linked to these exchanges. Websites were restricted because the exchanges lacked licenses from the Securities and Exchange Regulator of Cambodia (SERC). Despite this, the mobile apps of these platforms remain active.<a href="https://cryptotale.org/cambodian-conglomerates-platform-linked-to-11b-crypto-fraud/" rel="noopener noreferrer nofollow">Cambodia</a> launched its “FinTech Regulatory Sandbox” program in 2022 to establish a regulated framework for digital assets. However, only two companies have been licensed to operate under this program. Binance has also partnered with SERC to help develop the country&#39;s crypto regulations. A Binance spokesperson stated that the company is closely monitoring the evolving situation.Cambodia remains one of the top 20 countries for global retail crypto use. Retail users conduct 70% of crypto transactions through centralized exchanges. This high adoption rate persists despite the government&#39;s efforts to regulate the sector.<a href="https://cryptotale.org/cambodia-blocks-16-crypto-exchanges-binance-coinbase-okx-affected/" rel="noopener noreferrer nofollow">Read more on Cryptotale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

Cambodia Blocks 16 Crypto Exchanges: Binance, Coinbase, OKX Affected

CryptoTale

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