Cambodia Crypto Ban: What Happened and Who It Affects

When Cambodia crypto ban, a sweeping government order issued in 2022 that declared all cryptocurrency transactions illegal. Also known as crypto prohibition in Cambodia, it was meant to protect citizens from fraud and preserve the national currency. But in practice, it created a gray zone where people still trade crypto — just quietly.

The ban targeted cryptocurrency exchanges, platforms that let users buy, sell, or trade digital assets like Bitcoin and Ethereum, and anyone operating them locally. The National Bank of Cambodia (NBC) didn’t just shut down websites — they pressured banks to block payments to crypto services. But here’s the twist: the ban never outlawed holding crypto. You can still own it. You just can’t legally trade it through local platforms. That’s why many Cambodians turned to peer-to-peer (P2P) apps like Paxful or LocalBitcoins, or used offshore exchanges with VPNs. The rule didn’t kill crypto — it just moved it underground.

Another key player in this story is crypto regulation in Southeast Asia, a patchwork of laws where countries like Thailand and Vietnam are slowly legalizing crypto, while Cambodia and Laos took hardline stances. Cambodia’s move stood out because it was one of the first in the region to ban crypto outright — not just restrict it. But unlike Algeria or Tunisia, Cambodia didn’t set jail terms or heavy fines. Instead, they relied on economic pressure: banks refusing to process crypto-related transactions, and payment processors cutting off services. The result? A drop in visible activity, but not in actual usage.

What’s missing from the ban is any real public education. Most people didn’t understand why crypto was banned. They just knew they could no longer use Binance or Kraken through local apps. So they found workarounds. Some use Chinese or Thai friends to send crypto via wallet addresses. Others buy Bitcoin in cash from street traders. A few even use crypto to pay for goods in online marketplaces that don’t ask for ID. The government didn’t anticipate this kind of adaptation.

The crypto enforcement in Cambodia, the inconsistent way authorities act on the ban — sometimes ignoring it, other times raiding offices or arresting suspected operators — shows how weak the policy really is. There’s no centralized tracking system. No public list of banned wallets. No clear penalties for individual users. That’s why you’ll find crypto-related Facebook groups with thousands of members, and Telegram channels still buzzing with trading tips. The ban exists on paper, but not in practice.

If you’re in Cambodia and holding crypto, you’re not breaking the law by owning it. You’re breaking it only if you run an exchange or actively promote trading. But even then, enforcement is rare. Most people who trade crypto here do so without consequences — not because the law is weak, but because the government hasn’t prioritized chasing individual users. The real targets were businesses, not everyday people.

What you’ll find below are real stories, technical breakdowns, and comparisons from other countries that faced similar bans. Some posts show how people got around the restrictions. Others explain why the ban failed to stop crypto adoption. You’ll see what’s still active, what’s vanished, and what’s quietly growing despite the rules. This isn’t about legality — it’s about what people actually do when governments try to control money they don’t understand.