Four PillarsFour PillarsAsia Digital Asset Policy Center

Southeast Asia

Cambodia

From a 2018 ban on unlicensed crypto to bank rules and a US$10M exchange licence, with a full digital asset law due by end-2026.

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Licences

What it takes to operate in Cambodia: 3 licences, who issues each, what it covers and who holds one.

NBC approval or licence for crypto-asset activities (CASP)

NBC · Prakas B7-024-735 on Transactions Related to Cryptoassets (2024)

Crypto-asset services by commercial banks, which need prior NBC authorisation. The 2024 Prakas also provided NBC approval for payment institutions and NBC licences for other entities, but the September 2026 joint statement routes all non-bank providers to the SERC.

What it takes
  • Commercial banks limited to Group 1 assets: tokenised traditional assets and fully backed stablecoins
  • No bank issuance of, or services linked to, Group 2 crypto such as bitcoin or algorithmic stablecoins
  • Prudential treatment of Group 1 exposures on a same activity, same risk, same regulation basis
  • Regular reporting to the NBC
No public count

SERC Digital Asset Service Provider licence

SERC · NBFSA Prakas No. 093 on the Issuance of Licence and Management of Digital Asset Business (2025); SERC-NBC Joint Statement (2026)

Digital asset trading, wallet, borrowing and lending, and asset management services; since the September 2026 joint statement, all non-bank virtual asset providers need an SERC licence.

What it takes
  • Minimum capital of KHR 40 billion (about US$10 million) for trading, lending or management, or KHR 4 billion for wallets
  • Business guarantee deposit equal to 15% of minimum capital
  • Successful testing of IT systems and products in the securities regulatory sandbox
  • Cambodian company with tax registration, defined management and compliance officers, and AML/CFT controls
  • Segregation of client assets; licence valid two years at first, then three on renewal
No public count

SERC Digital Asset Agent licence

SERC · NBFSA Prakas No. 093 (2025)

Individuals acting for a licensed digital asset service provider.

What it takes
  • Engagement by a licensed digital asset service provider
  • Licence from the SERC before acting
  • Renewal on the same cycle as provider licences
No public count

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