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.
Governments in Asia are quickly researching or implementing CBDCs. What does this mean for the region’s overdependence on the U.S. dollar?
Asian CBDC projects: What are they doing now?
Launched in late 2020, Cambodia’s digital money project Bakong reached 200,000 users in June, doubling from three months earlier.
Cambodia explores cross-border transactions of CBDC-like Bakong
But don’t call it a CBDC, says central bank reps.
Cambodia launches inter-banking platform that runs on blockchain
Somewhat behind schedule, Cambodia’s banks are readying themselves for a forthcoming national blockchain-based currency.
Cambodians Still Waiting on Central Bank Digital Currency
A Singapore blockchain-based smart city project in the Cambodian capital wants to list its native token on a crypto exchange.
Blockchain-Based Smart City Project Limestone Plans for Token Listing
The director-general of the National Bank of Cambodia revealed that the central bank’s DLT payments platform will go live by the end of the year.
Cambodia’s New DLT Payments Network Aims to Undermine US Dollar
Cambodia is the latest country to demonstrate serious pro-blockchain action.
The National Bank of Cambodia Will Launch a Digital Payments Network This Quarter