blockchainreporter
  • News
    • Altcoins
    • Bitcoin
    • Blockchain
    • Ethereum
    • Adoption
    • NFT
    • DeFi
    • Metaverse
  • Education
  • Glossary
  • Advertise
No Result
View All Result
Bet Now
blockchainreporter
  • News
    • Altcoins
    • Bitcoin
    • Blockchain
    • Ethereum
    • Adoption
    • NFT
    • DeFi
    • Metaverse
  • Education
  • Glossary
  • Advertise
No Result
View All Result
blockchainreporter
Bet Now
No Result
View All Result
  • bitcoinBitcoin(BTC)$22,719.008.10%
  • ethereumEthereum(ETH)$1,602.5615.08%
  • binancecoinBNB(BNB)$268.419.36%
  • cardanoCardano(ADA)$0.519.46%
  • rippleXRP(XRP)$0.3531286.16%
  • SolanaSolana(SOL)$39.5611.01%
  • dogecoinDogecoin(DOGE)$0.0655266.24%
  • AvalancheAvalanche(AVAX)$22.9514.28%

Binance and Cambodia’s Securities Regulator Sign MoU

Eric Maina by Eric Maina
June 30, 2022 - 12:34 pm
in adoption news, bitcoin news
0
Binance Elrond
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

The Binance crypto exchange, one of the biggest crypto exchanges in the world, announced on June 30, 2022, that it had signed an MoU with the Securities and Exchange Regulator of Cambodia (SERC).

Details of the MoU

According to the MoU, Binance will help SERC develop Cambodia’s securities industry. To achieve this objective, Binance will share technical experience and knowledge with SERC when it comes to digital assets. The leading exchange will also work with SERC to develop a legal framework for the regulation of digital assets in the country. Finally, Binance will work with SERC to conduct training on digital assets in the country.

What the Leaders Had to Say

Commenting on the MoU, Mr. SOU Socheat, who is the Delegate of Royal Government in Charge as Director-General of SERC, stated that they hoped to implement digital asset innovation correctly in Cambodia. Socheat added that to date, SERC had not issued any digital asset license. However, they were working to create proper laws. He expects that the MoU was a step in the right direction when it came to digital asset regulation.

Gelb Kostarev, the Regional Head of Binance in Asia, also commented on the MoU. According to him, Cambodia had the potential to become a leader in Southeast Asia, where blockchain and digital asset adoption was high. Kostarev added that Binance was hoping to add value to Cambodia’s securities sector by offering extensive and professional knowledge on how digital asset markets work.

Cambodia

How This Helps Binance

Within Southeast Asia, there is a lot of ambiguity when it comes to the regulation of the crypto sector. This is not good for Binance’s centralized exchange (CEX) model. Legal clarity allows Binance to thrive and expand its services without the risk of being shut down. It also instills confidence in investors, when they are operating within a regulated environment.

By working with the regulator to create laws for the sector, Binance will ensure that any laws created for the crypto sector are friendly to its operations. Additionally, it will ensure that the exchange is not hit with any surprises when laws are finally created for the sector.

This is in line with Binance’s aggressive stance toward achieving legal recognition in as many jurisdictions as possible. For instance, the exchange was given clearance in France via one of its subsidiaries to offer digital asset services in the country. However, the exchange has thus far been unable to obtain clearance from the UK’s regulators, which would significantly boost its operations around the world.

The Significance of Southeast Asia

Southeast Asia is one of the most important regions for the crypto industry. It has a large population, which is young and tech-savvy. They have already demonstrated a huge interest in the crypto sector. With the right laws in place, the region holds huge potential, especially for centralized crypto exchanges. By acquiring legal approval in one country, it could have a domino effect, where Binance would be able to have a clear leading position in the region.

Tags: AdoptionBinanceBitcoinCEXCryptoMoURegulation
ShareTweet
Eric Maina

Eric Maina

Eric Maina has been working as a freelance content and copywriter for over three years. He is passionate about blockchain, crypto, and fintech. His articles on the crypto industry have been widely read. He takes his role of informing readers about events in the crypto industry very seriously. Eric aims to provide accurate and timely information in every article he creates on the crypto industry. He conducts in-depth research on the topics on which he writes to provide his readers with as much insight a possible into the nascent crypto industry.

Recommended For You

Asia-Based Crypto Lending Platform Hodlnaut Halts All Withdrawals

by Mushu Butt
August 8, 2022 - 11:47 am
0
Hodlnaut

Crypto lending platform Hodlnaut cited current market conditions and said it must stabilize its liquidity and protect its digital assets.

Read more

Crypto.com Obtains Registration in South Korea to Offer Virtual Asset Facilities under Electronic Financial Transaction Act

by Umair Younas
August 8, 2022 - 10:57 am
0
crypto.com south korea

The CEO and co-founder of Crypto.com, Kris Marszalek, stated that the current move is considered to be of substantial importance for the platform.

Read more

New Miner Data Shows Optimistic Signs for Bitcoin

by Umair Younas
August 7, 2022 - 5:17 pm
0
Bitcoin Nano Futures

Analysts have gathered data from different metrics including Hash ribbons, miner possessions, Puell Multiple, and Bitcoin mining difficulty.

Read more

Brazil Central Bank Praises Bitcoin as Pioneer of the Web3 Tech

by Shayan Chowdhury
August 7, 2022 - 2:52 pm
0
Brazil Central Bank

Fabio Araujo, Director of Brazil Central Bank, has praised Bitcoin's innovative approach and attributes as it is the catalyst of Web3 technology.

Read more

Mastercard to Launch New Ebonex Crypto-Linked Payment Cards in Australia

by Shayan Chowdhury
August 5, 2022 - 4:42 pm
0
Mastercard NFT

Today, the Australian cryptocurrency exchange Ebonex announced its partnership with Mastercard to launch crypto-linked payment cards

Read more
Next Post
EU Parliament Votes Against Ban On PoW Crypto

First EU Rules to Monitor & Trace Transfers of Crypto-Assets

PARTNERS LIST

PRESS RELEASE

DeFiChain Community Brings Attractive Rewards For DFI ERC-20 Pairs on Uniswap

by chainwire
August 7, 2022 - 10:35 am
0

Singapore, Singapore, 7th August, 2022, ChainwireDeFiChain, the world’s leading blockchain on the Bitcoin network dedicated to bringing decentralized financial applications...

Drexel University College

Healthcare Payments Innovator, MAPay Seeks to Achieve Healthcare Data Interoperability Through Blockchain

by Max Clark
August 5, 2022 - 12:59 pm
0

The collaboration will develop the technical foundation and market for patient data access, a contentious healthcare topic.

TRON Grand Hackathon Season 2 Closes out Submission with over 1800 Participants

by chainwire
August 4, 2022 - 8:19 am
0

Geneva, Switzerland, 4th August, 2022, Chainwire–Season 2 of The TRON Grand Hackathon 2022 has seen a wave of submissions receiving...

Impel Adds Bitcoin to ISO 20022 Financial Messaging on XDC Network

by chainwire
August 2, 2022 - 1:01 pm
0

Dallas, Texas, 2nd August, 2022, ChainwireNew Cross-chain Interoperability via WanBridge Provides More Robust Options for Instant Settlement  Impel is pleased...

BlockchainReporter is a trusted name in the cryptocurrency and blockchain technology news space, keeping its readers abreast of the latest and most significant trends in the industry.

Here at BlockchainReporter, our team of global writers is dedicated to providing price analysis on leading cryptocurrencies and covering the latest developments pertaining to bitcoin news, altcoins news, blockchain news, NFT news and cryptocurrency adoption news from around the world.

News

  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • Adoption
  • NFT
  • DeFi
  • Metaverse

Info

  • Education
  • Glossary
  • Market
  • Press Release

Company

  • About Us
  • Terms & Conditions
  • Advertise
  • Sitemap
  • Contact

@2022 – Blockchainreporter.net. All Right Reserved.

No Result
View All Result
  • News
    • Altcoins
    • Bitcoin
    • Blockchain
    • Ethereum
    • Adoption
    • NFT
    • DeFi
    • Metaverse
  • Education
  • Glossary
  • Advertise

@2022 - Blockchainreporter.net. All Right Reserved.

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies. However, you may visit "Cookie Settings" to provide a controlled consent.
Cookie SettingsAccept All
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT