Cambodia Passes Law Targeting Crypto Scam Compounds

[cryptobro]

Cambodia has passed new legislation aimed at cracking down on scam compounds, including those involved in cryptocurrency fraud. The bill, approved unanimously by the Senate, introduces prison sentences of two to five years and fines of up to $125,000, with harsher penalties for organized groups or repeat offenses.

The law is designed to address gaps in existing regulations and strengthen enforcement against technology-driven scams. It comes amid growing concerns over large-scale fraud operations that have affected victims globally and damaged the country’s reputation.

[mendez]

crypto crime evolving faster than laws catching up, again