Binance to Share Expertise on Digital Assets With Cambodian Regulatorby Fintech News Singapore July 4, 2022
Global cryptocurrency exchange Binance announced the signing of a Memorandum of Understanding (MoU) with the Securities and Exchange Regulator of Cambodia (SERC).
Binance and SERC will collaborate to develop the securities sector in Cambodia where the former will share its technical knowledge and experience on digital asset operations.
Additionally, Binance will also support the development of the legal framework for regulating and bolstering the digital asset businesses in the country.
Under the MoU, Binance will conduct proper training on digital assets for the region.
H.E Sou Socheat, Delegate of Royal Government in Charge as Director-General of SERC said,
“We hope to implement the digital asset innovation in the right way to Cambodia through the collaboration with Binance.
SERC has not issued any digital asset license currently, but we are working to develop proper regulations and expect this MoU to be a stepping stone for our future regulatory work.”
Gleb Kostarev, Binance Regional Head of Asia said,
“Within the Southeast Asia region where the blockchain and digital asset adoption rate is high, Cambodia has the potential to be a leading market.
Binance hopes to add value to the Cambodian securities industry by providing extensive and professional knowledge of the digital asset market.”