Explained
Looking for love lost $36.9 million to crypto scammers: A story of how Axis Digital turned sweet words into stolen coins and laundered it all to Cambodia.
Cambodia News
Cambodia is a country located on the Indochinese Peninsula in Southeast Asia. Cambodia is one of the least developed countries in Asia. However, it has one of the most rapidly growing economies in the world. Bitcoin in Cambodia is developing gradually, as the government hasn’t decided yet on the laws as they relate to blockchain and Bitcoin. Cambodian authorities have only claimed mentioned some limitations for banks and other financial establishments on trading and advertising cryptocurrency. Nevertheless, in Cambodia, the adoption of Bitcoin is becoming more and more real, as there are already local cryptocurrency exchange platforms for citizens and there are some projects being made to develop digital currencies and other related products and services — including Bitcoin mining in Cambodia.
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Huione Guarantee’s shutdown sent “shockwaves” through the ecosystem but also left a vacuum for other crypto darknet marketplaces to fill.
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Despite repeated attempts to stamp out the crypto-crime-linked Huione, Chainalysis says there’s been no meaningful decline in transactions.
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Five members of an international crypto scam ring are accused of stealing nearly $37 million from American victims and sending the funds to Cambodia.
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The US Treasury has proposed cutting the Huione Group's access to the US banking system, accusing it of being involved in laundering crypto.
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The Swiss-based backer of the Internet Computer Protocol will provide training and entrepreneurial support as well as decentralized computing.
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The Cambodian central bank’s Soramitsu-backed digital payment system is continuing to expand.
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Over $35 million in funds from a May cryptocurrency exchange hack have reportedly been moved to the online marketplace Huione Guarantee this month.
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The UNDP’s Universal Trusted Credentials will get its second trial in Cambodia. The plan is to create a 10-country ecosystem.
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While Japan is preparing to solve the legal issues around issuing a CBDC, it has not revealed plans for an official launch.
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The CBDC-like bakong provides digital payment services in riel and the U.S. dollar. It has been steadily extending its regional scope.
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The crypto exchange has signed similar agreements with the governments of Kazakhstan, Dubai and Bermuda.
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A runner and Bitcoin hodler from India is on a mission to travel to 40 countries in 400 days using Bitcoin only.
9423 - Interview
Under the handle "Paco De La India", the YouTuber said he planned to visit 40 countries, often using Bitcoin transactions to pay for everything he needed.
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Governments in Asia are quickly researching or implementing CBDCs. What does this mean for the region’s overdependence on the U.S. dollar?
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