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Cryptocurrency Exchanges In Cambodia Must Obtain License From NBC

It is now must for cryptocurrency exchanges in Cambodia to obtain a license from the National Bank of Cambodia (NBC) for operating a crypto exchange in the country. Presently, the soon-to-be-launched (in September) exchange, COINYEX Co. Ltd is the only exchange in the Cambodian kingdom that has already applied for the license.

In order to procure a license for operating a cryptocurrency exchange, COINYEX Co. Ltd has officially begun the application procedures. An issuer of TOUREXCOIN, TUX GLOBAL is all set to launch the cryptocurrency exchange COINYEX in September 2018.

Apart from the NBC, it is required to obtain a license from the General Commissariat of National Police and the Securities and Exchange Commission of Cambodia, in order to rule out risks of cybercrime, money laundering or Ponzi scheme.

Amongst the companies vying for a license to operate cryptocurrency exchanges in Cambodia, COINYEX.Co. Ltd is the only company that has already applied for the license. COINYEX started this application process early on for obtaining a license to operate at the earliest.

COINYEX intends to set TOUREXCOIN as its key cryptocurrency after obtaining a license. It has plans to deal with several other coins as well in the near future. The soon-to-be-launched exchange intends to use TOUREXCOIN as a cryptocurrency that can be used for settlement while trading in real time.

Since the TUX platform developed by TUXGLOBAL sdn.bhd is a mechanism to be used for settlement, TOUREXCOIN stands in an advantageous position at the exchange. TOUREXCOIN is now finally entering into a practical state, as stated in the Cointelegraph report.

COINYEX.Co.Ltd is setting an example for all other aspiring cryptocurrency exchanges in the Cambodian kingdom. After being through the Private Sale, TOUREXCOIN is at the final stages of being listed soon. It is now offering a Pre-Sale. The launch of the COINYEX exchange is scheduled for late September at the Sokha Phnom Penh Hotel in Cambodia.

[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]

Jesmine Rahman holds 15+ years of professional writing experience of working with reputed Indian dailies like the Times of India and the Indian Express. She also holds a rich experience of working as a Senior Technical Content Specialist with a reputed IT company. for 10 years. She writes crypto news on OWLT Market.

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