Cambodia makes it illegal to operate in cryptocurrency space without a ​license

Screen Shot 2018-06-20 at 07.48.13 The Cambodian government has come up with a joint statement of various regulatory authorities stating that it will be illegal to operate cryptocurrency operation without a license. This move is seen to save it public from getting duped into buying shitcoins. The statement has specifically mentioned coins like KH Coin, Suncoin, K Coin, One-coin, Forex coin which are clearly riding on the speculation boom.

Since the issuance of cryptocurrencies is not backed by collateral besides the volatility and the anonymous nature of many cryptocurrencies is not suitable for the general public to buy such coins from exchanges

Overall the tone of the statement is cautionary rather than coming out of measures in case the law is broken.

“Competent authorities strongly believe that the public shall strictly implement the spirit of this statement”

 

 

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