The National Bank of Cambodia (NBC) has allowed commercial banks and payment institutions to use certain "Class 1" assets like stablecoins, while maintaining a ban on Bitcoin. This move is seen as a positive step for stablecoin regulation but highlights the country's skepticism towards cryptocurrencies. The decision may foster growth in Cambodia's blockchain space, but broader crypto-friendly policies are needed for significant transformation. The country has taken a stricter stance on crypto regulation in 2024, blocking major exchanges due to money laundering concerns. Despite this, crypto adoption has grown, albeit with associations to organized crime. Recent scandals, including a darknet trade linked to North Korea's Lazarus Group, have deepened regulatory scrutiny. #Cambodia #CryptoRegulation #Stablecoins #Blockchain #BitcoinBan