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Cryptocurrency News Articles

Cambodia Blocks Websites of Binance, Coinbase, and Other Crypto Exchanges

Dec 03, 2024 at 12:52 pm

Cambodia has cut off access to the websites of 16 crypto exchanges, including major ones like Binance, Coinbase, and OKX as part of the country's efforts to regulate the crypto market

Cambodia Blocks Websites of Binance, Coinbase, and Other Crypto Exchanges

Cambodia has blocked access to the websites of 16 major crypto exchanges, including Binance, Coinbase, and OKX, as part of efforts to regulate the crypto market.

The move comes despite Binance’s existing partnerships in Cambodia, including a 2022 memorandum of understanding with the Securities and Exchange Regulator of Cambodia (SERC) to help develop digital currency regulations.

However, mobile apps for the crypto exchanges remain accessible in Cambodia. Currently, only two companies have received licenses to operate digital assets businesses under SERC’s “FinTech Regulatory Sandbox” program.

Despite the restrictions, Cambodia ranks among the top 20 countries globally for retail crypto use per capita, according to analytics firm Chainalysis.

Original source:cryptobriefing

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