Bitcoin & Cryptocurrency Regulation in Cambodia

Holding and using cryptocurrency is not a crime in Cambodia for ordinary individuals, but the country does not treat Bitcoin as legal tender, and the commercial side of the market is gated behind licensing. That distinction is the key to understanding Cambodia.

In 2018 the National Bank of Cambodia, the Securities and Exchange Commission of Cambodia (now the SERC), and the General-Commissariat of National Police issued a joint statement warning against the unauthorized propagation, buying, selling, trading, and settlement of cryptocurrencies without a license from competent authorities. Because no agency was granting such licenses at the time, it operated as a de facto ban and kept the market in a cautious grey area for several years.

The position has since shifted toward regulated permission rather than blanket prohibition. The NBC now allows supervised institutions to engage with defined categories of crypto-assets under prior approval, and the SERC has built a licensing framework for digital-asset businesses. In short:

• Personal ownership and use: generally tolerated; Bitcoin is treated as a private asset, not money issued or backed by the state.
• Commercial services (exchanges, custody, brokerage, lending): require a license from the SERC or prior approval from the NBC.
• As payment or legal tender: not recognized; merchants are not obliged to accept crypto, and the SERC's digital-asset rules explicitly exclude payment use.

The safest reading is that crypto is legal to hold but tightly regulated to operate as a business.

Cambodia's crypto oversight is split between two main authorities, and knowing which one governs an activity matters.

National Bank of Cambodia (NBC) is the central bank and the monetary and supervisory authority. It is the sole issuer of the Khmer riel and licenses, regulates, and supervises banks and financial institutions. The NBC governs how banks and payment institutions may engage with crypto-assets and operates Bakong, the country's blockchain-based national payment system.

Securities and Exchange Regulator of Cambodia (SERC) is the securities and capital-markets authority, operating under the Non-Bank Financial Services Authority (also referred to as the Financial Services Authority). The SERC treats digital assets as a form of security for investment purposes and licenses digital-asset service providers. It also runs a Fintech Regulatory Sandbox under which Cambodia's first licensed digital-asset exchange operates.

Tax matters fall to the General Department of Taxation (GDT), which operates under the Ministry of Economy and Finance. Detailed implementing rules from each body are still being rolled out, so the regulatory picture remains a moving target. You can confirm the regulators directly via the National Bank of Cambodia and the Securities and Exchange Regulator of Cambodia.

Three instruments define the current landscape.

NBC Prakas on Transaction Related to Crypto-assets (26 December 2024). This replaced the old de facto ban with a permission-based system for supervised institutions. It classifies crypto-assets into two broad groups:

SERC Prakas No. 093 on the Issuance of Licence and the Management of Digital Asset Business (30 December 2025). Issued by the Non-Bank Financial Services Authority, it sets out licensing and conduct rules for Digital Asset Service Providers, Digital Asset Agents, and related persons operating for investment purposes. It explicitly excludes payment transactions involving digital assets.

Bakong is the NBC's blockchain-based national payment and transfer system, widely used domestically and sometimes described as a tokenized-deposit or central-bank-digital-currency-style platform. It is state-run infrastructure and is distinct from open, decentralized cryptocurrencies like Bitcoin. You can read the NBC crypto Prakas directly via the NBC Prakas on Transaction Related to Crypto-assets (PDF).

Under SERC Prakas No. 093, no person may act as, or hold themselves out as, a Digital Asset Service Provider (DASP) without a valid and active DASP license from the SERC. The regime is detailed and capital-intensive.

• License validity: an initial license is valid for two years; on renewal it is valid for three years, with renewal applications due at least 60 days before expiry.
• Minimum capital: approximately KHR 40 billion (about USD 10 million) for activities such as trading, borrowing or lending, and management; approximately KHR 4 billion (about USD 1 million) for digital-wallet activities.
• Sandbox testing: applicants must successfully test their IT systems, business models, and services in the SERC's regulatory sandbox environment.
• Conduct rules: fair-dealing, disclosure, and AML/CFT obligations apply.

For individuals, the practical landscape looks like this:

• Licensed local platforms: the preferred route as the regime matures, offering clearer legal standing and local compliance.
• International exchanges: many Cambodians have historically used large global platforms, but these may operate outside Cambodia's licensing perimeter and apply their own access and verification rules.
• Peer-to-peer and informal channels: common but higher-risk, with weaker consumer protection and greater exposure to fraud.

Because the framework is new, confirm whether a platform holds a current SERC license before transacting.

Cambodia now has a capital gains tax that can reach crypto, though crypto-specific guidance is still limited. On 18 July 2025 the Ministry of Economy and Finance issued Prakas No. 496 on Capital Gains Tax, introducing a flat 20% rate on gains from defined capital assets.

• Rate: 20% of the gain, generally the difference between the sale price and the acquisition cost.
• Phased rollout: the tax began applying from 1 September 2025 to assets such as securities (including shares), leases, intellectual property, goodwill, and foreign currency, with immovable property (land and buildings) following from 1 January 2026.
• Crypto treatment: the General Department of Taxation has been reported to classify cryptocurrencies as intangible assets rather than legal tender, which can bring crypto gains within the capital gains framework. Treatment can still depend on how an activity is characterized (for example, trading versus business income).
• Scope: the tax can apply to residents on worldwide gains and to non-residents on Cambodian-sourced gains.

This is an area where mistakes are costly and the rules are still settling. Keep detailed records of acquisitions, disposals, and transfers, and consult the General Department of Taxation or a qualified Cambodian tax adviser. See our general crypto taxes guide for background. Nothing here is tax advice.

Anti-money-laundering (AML) and counter-terrorism-financing (CFT) compliance is a core condition of the regulated framework. Banks, payment institutions, and licensed crypto businesses must adhere to Cambodia's AML/CFT legal framework.

• Client due diligence (KYC): reputable and licensed platforms verify customer identity before allowing trading, deposits, or withdrawals. Expect to provide valid identification.
• Suspicious transaction reporting: regulated providers must monitor activity and report suspicious transactions to the relevant authorities.
• Provider obligations: under SERC Prakas No. 093, DASPs must satisfy AML/CFT and fair-dealing requirements as a licensing condition.
• Foreign-exchange context: Cambodia's economy is heavily dollarized and subject to currency and reporting rules, so converting between crypto, the riel, and US dollars can intersect with banking and AML checks.

For users, the practical takeaway is that anonymity is shrinking: licensed services will ask for identity verification, and informal channels carry higher fraud and compliance risk.

Cambodians do buy and trade crypto, but the rules around who can offer services are stricter than in many neighboring markets. A careful, compliance-aware approach reduces both legal and financial risk.

• Choose a reputable platform. Favor exchanges that hold a current SERC license where available, or well-established international platforms, and check what is permitted for Cambodian users.
• Complete identity verification. Expect KYC and AML checks and have valid identification ready. Tourists and short-term visitors may face extra hurdles tied to local banking, SIM, and verification requirements, so do not assume the same access you have at home.
• Understand funding. Learn how the platform handles riel and US-dollar deposits and how that interacts with Cambodia's banking and exchange-control rules.
• Start small, check fees and rates, and confirm details before buying.
• Secure your holdings. Consider a wallet you control, use strong security (a hardware wallet for larger amounts), and protect your recovery phrase.
• Keep records of purchases, sales, and transfers for possible tax reporting.

Using crypto for everyday payment is not recognized and merchants are not required to accept it; for transfers, Cambodia's own Bakong rails already provide fast, low-cost domestic payments. Confirm the current legal and licensing status before transacting, as the framework is evolving.

Bitcoin mining is energy-intensive, and Cambodia's power sector is a central constraint. The country imports a significant share of its electricity and has faced periods of supply pressure, so large-scale mining raises real questions about grid strain, cost, and sustainability.

There is no widely publicized, dedicated mining-licensing regime in Cambodia, which leaves miners in an uncertain position. Anyone considering mining should weigh several factors:

• Electricity: cost and reliability are the make-or-break variables; mining competes with households and industry for limited supply.
• Legal standing: because mining is not clearly carved out in regulation, operators should seek guidance on how it interacts with NBC and SERC rules, business licensing, and import rules for hardware.
• Environmental and community impact: energy demand, emissions, and land use are increasingly scrutinized.

In practice, Cambodia is not a leading mining destination, and the combination of power constraints and regulatory ambiguity makes large operations risky without professional legal and energy advice.

Cambodia's framework filled in quickly across 2025 and into 2026.

• NBC crypto Prakas in force: the 26 December 2024 Prakas opened a permission-based path for supervised banks and payment institutions to engage with Group 1 assets.
• Capital gains tax live: MEF Prakas No. 496 (18 July 2025) brought a 20% capital gains tax into effect in phases from 1 September 2025, with implications for crypto gains classified as intangible assets.
• SERC licensing regime finalized: Prakas No. 093 (30 December 2025) established the DASP licensing framework, including capital thresholds and sandbox testing.
• First licensed exchange: Royal Group Exchange (RGX) has been reported as Cambodia's first licensed digital-asset exchange, operating within the SERC's Fintech Regulatory Sandbox, a framework developed in partnership with Binance.

The likely path is a gradually clearer framework: more licensed providers, defined tax treatment, and continued emphasis on backed assets and state-run rails like Bakong, with Bitcoin and other unbacked crypto tolerated for individuals but kept at arm's length from the banking core. Because details are still being issued, treat anything beyond the headline instruments as provisional and verify with the regulators.

Cambodia's direction of travel is toward regulated engagement rather than prohibition, but consumer protections remain thinner than in mature markets. Keep these risks in mind:

• Rule changes: implementing regulations are still being issued, so requirements and permitted activities can shift.
• Unlicensed services: using providers that are not licensed by the SERC carries legal and counterparty risk and weak recourse if something goes wrong.
• Scams and fraud: the region has seen significant crypto-related fraud and investment scams; be skeptical of guaranteed returns and unsolicited offers.
• Volatility and loss: Bitcoin and other crypto-assets can lose value rapidly, and self-custody mistakes can mean permanent loss.
• Limited redress: dispute resolution and compensation mechanisms are less developed than in larger markets.

If you choose to participate, only commit money you can afford to lose, use licensed platforms where possible, secure your holdings carefully, and verify the provider's status with the SERC. This article is informational only and not legal, tax, or financial advice.

Crypto law in Cambodia is evolving, so always confirm the current position with primary sources rather than relying on secondary summaries. The most authoritative references are:

• National Bank of Cambodia (NBC) for banking, payment, and crypto-asset rules and for Bakong: nbc.gov.kh, including the Prakas on Transaction Related to Crypto-assets (PDF).
• Securities and Exchange Regulator of Cambodia (SERC) for digital-asset licensing and the DASP framework: serc.gov.kh.
• General Department of Taxation (GDT) for tax treatment and filing: tax.gov.kh.

For broader context, see our crypto regulation hub and the full country regulation directory. This is general information as of 2026 and is not legal advice; verify the latest rules with the named regulators or a qualified Cambodian professional before acting.

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