cryptoknowmics.com
Today, Binance, the top global provider of blockchain technology, announced the signing of an agreement with Cambodia's Securities and Exchange Regulator (SERC). By supporting the following, Binance and SERC will work together to build the securities industry in Cambodia:
- SERC will benefit from the technical expertise and experience that Binance will provide.
- Binance will assist in creating the legislative framework for managing and promoting the nation's digital asset firms.
- Binance will provide the region with appropriate training on digital assets.
Unregulated Cryptocurrencies in Cambodia
Since cryptocurrencies are unregulated in Cambodia, it is strictly forbidden to engage in unlicensed activities. As more countries in the area have taken a pro-crypto stance over the years, Asia has emerged as a hotbed for the cryptocurrency industry. Nations have developed progressive rules like Thailand, Singapore, Malaysia, and the Philippines to encourage the use of cryptocurrencies in their respective countries.
Binance Good Regulatory Relations
Binance has given good regulatory relations considerable emphasis, especially in the wake of its 2021 fiasco, which resulted in almost half a dozen nations issuing compliance warnings against the cryptocurrency exchange. In Bermuda, the exchange had committed to investing $15 million in community education and outreach. Binance and the government of Kazakhstan inked a similar Memorandum of Understanding earlier in May to assist them with accepting and regulating cryptocurrencies. Similarly, in December of last year, it inked an MoU with the Dubai World Trade Centre Authority (DWTCA) and obtained a license to do business there.