Cambodia Eyes December Enactment for Comprehensive Virtual Asset Law

PHNOM PENH, Sept 9, 2026 (KPT) — Cambodia is pressing ahead with plans for a comprehensive law on virtual and digital assets, aiming to complete enactment-ready legislation by December, the Securities and Exchange Regulator of Cambodia (SERC) said Tuesday. The regulator confirmed that UK-based consultancy D2 Legal Technology, engaged under Asian Development Bank (ADB) technical assistance, has submitted a detailed work plan for drafting the Law on the Management of Virtual Assets/Digital Assets. The plan follows an August 10 meeting of the Inter-Ministerial Working Group overseeing the process. Running from May to December, the project seeks to align Cambodia’s framework with international standards, including Financial Action Task Force (FATF) recommendations and principles of the International Organization of Securities Commissions (IOSCO). A full draft law is expected by late September, structured around three pillars: competent authorities, anti-money laundering and counter-terrorist financing (AML/CFT), and enforcement. These pillars correspond directly to FATF requirements for virtual assets and service providers, notably Recommendation 15 on regulation and Recommendation 16 on the “Travel Rule.” Other sections will be developed through skeleton provisions, enabling subsequent regulations. Completion is scheduled for November, with finalization in December. Stakeholder consultations will be incorporated throughout. On September 7, SERC Director General Sou Socheat chaired a virtual meeting with ADB specialist Ahmad Faris Rabidin to review the plan. The ADB reaffirmed its support for the drafting process. D2 Legal Technology’s lead expert, Dr. Jason de Mink, brings more than 25 years of experience in digital assets, fintech regulation and financial crime compliance. Officials said the law will establish clear regulatory responsibilities, AML/CFT obligations and enforcement mechanisms, providing Cambodia with a modern framework to manage the fast-growing virtual asset sector.