Cryptocurrency

Financial associations declare non-cooperation in settlement of cryptocurrency trading in Cambodia

The Association of Banks in Cambodia, the Cambodian Microfinance Association and the Federation of Finance and Technology of Cambodia have issued a joint statement denying that Payeer, which trades in cryptocurrencies, has cooperated with banking and financial institutions to engage in cryptocurrency trading in Cambodia.

According to a statement from the three associations, ‘The Association of Banks in Cambodia (ABC), the Cambodia Microfinance Association (CMA), and the Cambodian Association of Finance and Technology (CAFT), are aware of some crypto-related platforms, such as Payeer, have been using the name of our BFIs without authorization, and have announced its collaboration with some Banks and Financial Institutions in form of payments, deposits and withdrawals, investing and trading in Bitcoin, Ethereum and Crypto wallets.

All Three Associations and its members deny this advertisement and confirm no affiliation with PAYEER or any cooperation in payments or trading in cryptocurrencies. We remind the public that such activities related to crypto transactions, namely Bitcoin – Ethereum – Crypto Wallet, are not allowed under the prevailing Cambodian laws; therefore, the public should be careful of all these transactions and activities to avoid falling into deception, investment, or trading in unsafe financial instruments, which may lead to losses or damage.

As mentioned above, we remind you to be cautious of these schemes and/or other unsafe financial instruments and share this information with your relatives & friends.’

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