The post Cabodia Blocks Binance and Coinbase: Struggling to Control Illicit Cryptocurrency Market appeared on BitcoinEthereumNews.com.

On December 3rd, COINOTAG News reported that **Cambodia** has instituted a ban on 16 **cryptocurrency exchange websites**, notably including **Binance** and **Coinbase**. However, the government has left their mobile applications accessible, underscoring the challenges of regulating the burgeoning yet often illicit **cryptocurrency market**. This decision comes amid increasing **international scrutiny** aimed at bolstering Cambodia’s reputation, which has been marred by associations with **online scams**. The Cambodian authorities are striving to implement **regulations** governing the cryptocurrency industry and other digital services; however, these efforts have yielded limited success in curbing the nature of **decentralized trading**. Additionally, this regulatory initiative has impeded the operations of several established parties within the sector, further complicating the government’s quest for a balanced approach to digital asset management. Source: https://en.coinotag.com/breakingnews/cabodia-blocks-binance-and-coinbase-struggling-to-control-illicit-cryptocurrency-market/

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Filed under: News - @ December 3, 2024 3:26 am