Cambodia
Is crypto legal in Cambodia? (2026)
Partially — cryptocurrency is restricted in Cambodia. Current status: Restricted — bank exposure capped. Oversight sits with National Bank of Cambodia (NBC). Full details — governing law, licensing, tax and dated enforcement history — follow below (last reviewed 2026-07-15).
Legal status
Primary regulator
Stablecoin status
Framework: NBC Prakas B7-024-735 on Transactions Related to Cryptoassets (26 December 2024), signed by Governor Chea Serey.
Cambodia opened a narrow, prudential channel for regulated crypto exposure in late 2024. The National Bank of Cambodia's Prakas B7-024-735 of 26 December 2024 permits commercial banks and payment institutions — with prior NBC approval — to provide services involving "Group 1" cryptoassets: Group 1a (tokenised traditional assets such as securities), with exposure capped at 5% of Common Equity Tier 1 capital, and Group 1b (stablecoins), capped at 3% of CET1. Unbacked cryptoassets such as bitcoin and ether fall into Group 2 and remain off-limits for regulated institutions. The framework governs financial institutions' exposure and services; it does not create a retail crypto-exchange licensing regime.
Tax treatment
Pending verification — DeFi Intel has not verified Cambodia-specific crypto tax guidance in this research cycle.
Travel rule applicability
Status: pending. The December 2024 directive is prudential in scope; DeFi Intel has not verified Cambodia-specific VASP travel-rule requirements.
Notable enforcement actions
- 2025. The NBC withdrew Huione Pay's payment-institution licence (reported March 2025; NBC's list of licensed payment service institutions was updated accordingly) amid money-laundering allegations.
- 2025. In October 2025 the US DOJ unsealed an indictment of Chen Zhi, chairman of Cambodia-based Prince Holding Group, over forced-labour "pig butchering" scam compounds, filing a civil forfeiture claim over 127,271 bitcoin (≈US$15 billion) — the largest forfeiture action in DOJ history; OFAC and the UK sanctioned 146 Prince Group-linked targets.
- 2025. US FinCEN found Cambodia-based Huione Group to be of "primary money laundering concern", assessing it laundered over US$4 billion between August 2021 and January 2025 — including US$37 million tied to North Korean cyber-heists — and in October 2025 finalised a rule under Section 311 of the USA PATRIOT Act prohibiting US financial institutions from dealing with the group.
Public licensed CASP list
No public crypto-exchange licence register has been verified; under the 26 December 2024 directive, banks and payment institutions need case-by-case NBC approval for Group 1 cryptoasset services. DeFi Intel will mirror any official register the NBC publishes.
Comparison to neighbours
Compare Cambodia crypto regulation with three geographically adjacent jurisdictions:
Doing business in Cambodia — practical notes
Cambodia is effectively closed to unbacked-crypto business through the regulated sector: banks and payment institutions may only touch tokenised traditional assets and stablecoins, within CET1 caps and with NBC sign-off. The Huione affair — a licensed payment institution unwound over industrial-scale laundering, followed by a US Section 311 special measure — shows both the NBC's willingness to revoke licences and the extraterritorial enforcement risk around informal channels.
Methodology and sources
This profile was researched and updated by DeFi Intel's research desk on 2026-07-15 from the primary and secondary sources listed below. Claims that could not be verified against a source are omitted or marked pending — we do not republish unverified third-party datasets. Submit corrections and primary-source links to research@defi-intel.com.
Sources
- Central Banking — Cambodia allows banks to handle stablecoins and backed cryptos
- DFDL — NBC cryptoassets regulation (Group 1a/1b exposure caps)
- The Defiant — NBC approves Category 1 stablecoin services, prohibits bitcoin
- Federal Register — FinCEN Section 311 special measure re Huione Group (Oct 2025)
- Business & Human Rights Resource Centre — Huione Pay licence withdrawn
- US DOJ — Prince Group chairman Chen Zhi indicted; 127,271 BTC forfeiture (Oct 2025)
- US Treasury — US/UK action against Southeast Asian cybercriminal networks (Oct 2025)
Track Cambodia regulatory developments
Subscribe to the DeFi Intel weekly digest — every new jurisdiction guide, enforcement action and licensing update from our research desk.
Frequently asked questions
Is cryptocurrency legal in Cambodia in 2026?
Partially — cryptocurrency is restricted in Cambodia, with bank exposure capped. The current status is restricted, overseen by the National Bank of Cambodia.
What are the stablecoin exposure limits for Cambodian banks under the 2024 framework?
Under NBC Prakas B7-024-735, banks' stablecoin exposure is capped at 3% of Common Equity Tier 1 capital, with prior NBC approval required.
What enforcement action did the NBC take against Huione Pay in 2025?
In March 2025, the NBC withdrew Huione Pay's payment-institution licence amid money-laundering allegations.