Cambodia Blocks Major Crypto Exchanges Amid Growing Regulatory Pressure
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Cambodian authorities have blocked access to 16 major crypto exchanges, including Binance, Coinbase, and OKX, due to their lack of licensing from the Securities and Exchange Regulator of Cambodia (SERC).
This move also included the blocking of 102 domains, mostly targeting online gambling sites, although mobile apps remain accessible. Binance, which has a notable presence in Cambodia, acknowledged the issue and is closely monitoring the situation.
Despite these actions, Cambodia remains a significant player in the global crypto market, ranking in the top 20 for retail crypto adoption.
Centralized exchanges handle 70% of the country’s crypto transactions. However, only two companies have received licenses under SERC’s FinTech Regulatory Sandbox, limiting trading options.
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The crackdown comes amid growing concerns over illegal crypto activities, including money laundering and dark-web transactions.
Recent reports highlight over $49 billion in suspicious crypto transactions tied to criminal organizations. While regulatory measures increase, experts suggest they may not fully address the strong demand for crypto in the country.
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