Cambodia Forms Working Group to Regulate Digital Assets

Cambodia has taken steps to regulate digital assets in its growing financial sector. A government decision signed by Prime Minister Hun Manet on July 8, and made public on August 10, established an inter-ministerial working group to draft legislation for managing virtual/digital assets.

The working group will comprise 26 members, with a secretary of state from the Ministry of Economy and Finance and a deputy governor of the National Bank of Cambodia serving as co-chairs. Their goal is to create coherent and comprehensive legislation that can be implemented effectively.

Economics professor Duch Darin believes this move is positive for Cambodia's digital sector. 'I think the working group must clearly determine which types of crypto assets are permitted and subject to regulation, and should introduce consumer protection measures,' he said.