21 March 2014
National Bank of
Cambodia won’t recognize bitcoin as a form of payment. NBC confirmed the
regulator’s stance on the issue by citing the absence of any e-commerce law in
the Kingdom as one of the main reasons.
NBC is the only
organization in Cambodia with authorization to issue legal tender under the
direction of the Ministry of Economy and Finance. The NBC’s statement comes one
day after the Bank of Thailand (BOT) issued a stern warning against buying
bitcoins.
Bitcoin continues to
be traded in Thailand, however, despite the BOT stating that the government
would not and cannot regulate the digital currency. Last month, Vietnam’s banking
regulator banned commercial banks and vendors from using or allowing bitcoin as
a legitimate form of payment or trade. Prior to that, China, Japan and Russia
took similar steps to discourage the digital currency’s official use. Singapore,
meanwhile, is reportedly investigating ways to regulate the so-called
crypto-currency, of which there are an estimated 11 million in circulation
worldwide.
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