Recent reports indicate that the National Bank of Cambodia has imposed a ban on Bitcoin. This decision appears to be an effort by the Cambodian authorities to boost the circulation of the Khmer Riel while limiting the role of cryptocurrencies in the domestic market.
Question:
I’m curious about how Cambodian residents are managing their Bitcoin holdings now. Do they rely on intermediaries from nearby countries, and what approaches are being adopted? Additionally, how are countries like Thailand and Vietnam handling similar issues in cryptocurrency management?
Recent developments have certainly pushed many in Cambodia to look for alternative routes. From my experience, residents have increasingly turned to international exchanges and trusted intermediaries to manage their Bitcoin assets. This is largely facilitated by networks that operate across borders, thereby bypassing local restrictions. In comparison, Thailand and Vietnam are taking a more measured approach by formulating clearer guidelines that aim to balance innovation with regulatory oversight. Such measures, in my view, signal a broader shift in regional strategies towards managing cryptocurrencies.
in cambodia ppl now tend to use p2p and foreign platforms directly, kinda risky but what can you do nowadays. meanwhile, thailand & vietnam seem to be working on safer, more cautious crypto policies even if it takes time.