Cambodia Establishes Inter-Ministerial Working Group to Draft Digital Asset Management Law
Cambodian Prime Minister Hun Manet announced the establishment of an inter-ministerial working group responsible for drafting the virtual asset/digital asset management law. The decision was signed on July 8 and announced on August 10. The working group consists of 26 members, with the Secretary of State of the Ministry of Economy and Finance and the Deputy Governor of the National Bank of Cambodia serving as co-chairs. Its main responsibilities include researching relevant laws and regulations as well as best practices, organizing internal meetings to discuss the progress of the draft, and consulting with partners, with the goal of forming coherent, comprehensive, and acceptable legislation for all stakeholders. Additionally, the National Bank of Cambodia issued a notice on August 6, requiring businesses not registered as banking financial institutions or payment service providers to report to the bank before engaging in electronic wallet-related transactions.
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