Binance will work with the Cambodian government to establish regulations

Yesterday, Binance announced they signed a Memorandum of Understanding (MOU) with the Securities and Exchange Regulator of Cambodia (SERC).

Under the MOU, Binance and SERC will collaborate with a view to developing a legal and regulatory framework for digital assets in Cambodia. In particular, Binance has agreed to:

• share its technical knowledge and experience regarding digital assets with the Cambodian regulator, and
• conduct proper training on digital assets for the region.

Binance’s head of its Asian operations, Gleb Kostarev, said that the rate of blockchain and crypto adoption has been high in Cambodia and that the southeast Asian country has “the potential to be a leading [digital asset] market” in the region.

We hope to implement the digital asset innovation in the right way to Cambodia through the collaboration with Binance. SERC has not issued any digital asset license currently, but we are working to develop proper regulations and expect this MoU to be a stepping stone for our future regulatory work.

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Binance has previously signed similar MOUs with both Kazakhstan and Dubai.