Cambodia Sets Up Interministerial Task Force to Draft Digital Asset Legislation
AI Market Summary
Cambodia is forming an interministerial task force to draft virtual-asset and digital-asset management legislation, signaling a move toward a clearer regulatory framework. The central bank also tightened oversight by requiring certain non-licensed ewallet issuers to notify it before conducting related transactions. The news is locally relevant for compliance and adoption dynamics but has limited near-term implications for broader crypto market pricing.
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Cambodian Prime Minister Hun Manet has announced the creation of an interministerial working group to draft and prepare legislation governing virtual assets, digital asset management, and related legal instruments, according to ME News.
The decision, signed on July 8 and officially published on August 10, establishes a 26-member group co-chaired by the Secretary of State at the Ministry of Economy and Finance and the Deputy Governor of the National Bank of Cambodia.
The group will study relevant laws, regulations, and best practices in Cambodia and abroad, convene internal meetings to review drafting progress, and consult with relevant partners. Its stated objective is to produce a coherent, comprehensive framework that is acceptable to stakeholders and can be effectively implemented.
Separately, on August 6, the National Bank of Cambodia issued a notice requiring companies that issue e-wallets for their own products or services, but are not registered as banking financial institutions or payment service providers, to notify the central bank before conducting related transactions. (Source: Foresight News)
