Источник Bitcoinist.com
Заголовок Binance And Coinbase Hit As Cambodia Blocks 16 Crypto Platforms
Дата 20241203

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Binance• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Binance And Coinbase Hit As Cambodia Blocks 16 Crypto Platforms

Binance• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Binance And Coinbase Hit As Cambodia Blocks 16 Crypto Platforms

by Christian Encila

3 minutes ago

in Crypto News

0

A Southeast Asian country continues its rigorous policy against cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта
platforms as it hampered access to digital asset exchanges. Regulatory
officials in Cambodia imposed an iron hand against cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта players by
blocking access to 16 crypto exchanges which include some of the popular firms
such as Coinbase and Binance• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Binance.

Related Reading: Cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта Tax Postponed! South Korea Extends Breathing
Room To 2027

Cambodia Crypto Crackdown

Government officials in Cambodia kept on with their unwavering campaign to
stop the activities of unregulated crypto in the country, dealing a huge blow
against these unlicensed digital asset firms.

Cambodia blocks access to 16 crypto exchange websites https://t.co/CYILxRKj1a

Nikkei Asia (@NikkeiAsia) December 3, 2024

The Telecommunication Regulator of Cambodia (TRC) suspended 16 bitcoin
exchange websites for breaking state licensing rules. Among those affected by
this government crackdown are corporate leaders such Binance• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Binance, Coinbase, and
OKX.

The Cambodian regulatory office implemented restrictions on these crypto
exchanges because they lack proper licensing from the Securities and Exchange
Regulator of Cambodia (SERC).

However, only the websites of these platforms are blocked. Investors can still
access crypto firm s mobile apps. Analysts are questioning the
efficiency of the restrictions since users can still have a way to go around
the government’s ruling.

Total crypto market• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта cap as of Dec. 3, 2024 at $3.37 trillion: TradingView.com

Crypto Exchanges Have Been Warned

The SERC said that the actions against these unlicensed crypto firms are part
of the government’s effort to regulate the growing digital asset market.

State authorities said that the government has repeatedly reminded crypto
exchanges that they are operating without proper authorization , saying that
the increasing number of these firms already poses a significant threat to the
financial ecosystem and presents a growing risk to users.

Analysts partially blamed the Cambodian government for these flourishing
unlicensed crypto exchanges because the Asian country failed to pass and
implement any comprehensive laws on cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта operations.

Hence, the regulatory vacuum offered an opportunity for local and
international crypto actors to exploit this weakness.

A scenic view of Cambodia. Image: Travel Inspires

Cambodia’s Crypto Standing

The Southeast Asian country might be facing• Экономика » Бизнес » Маркетинг » Фэйсинг

• Торговля » Розничная торговля » Фэйсинг
difficulties in regulating the
crypto market• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта
, but Cambodia’s position in the global crypto landscape remains
unchanged.

Data shows the nation is still in the top 20 countries for retail• Экономика » Бизнес » Маркетинг » Фэйсинг

• Торговля » Розничная торговля » Фэйсинг

cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта adoption per capita. About 70% of Cambodia’s crypto
transactions are from centralized exchanges, emphasizing on what will be the
possible implications of these restrictions.

Related Reading: Cathie Wood: Trump-Led Deregulation To Ignite Crypto And Tech
Boom

According to Chainalysis, more than $49 billion in cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта transactions
were facilitated by Huione Guarantee between 2021 and mid-2024, raising
concerns about potential involvement in illicit activities.

Chengyi Ong, who is in charge of strategy for Chainalysis Asia-Pacific, said
that broad restrictions might not work well if there is natural demand and
real-world uses.

The government took action after being looked at closely for crimes involving
crypto. The UN Office on Drugs and Crime said that criminal groups have been
using cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта to hide money and pay for things on the dark web.

Featured image from GVI, chart from TradingView

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