Government of Cambodia shot down rumors that it would be issuing its own national cryptocurrency, despite international media coverage and a high-profile government official’s plan to attend an event organized by the company responsible for the claims.
A firm called Entapay issued a press release on March 2 announcing the Asean Blockchain Summit would be held at the Sokha Hotel in Phnom Penh tomorrow. The press release says that “following Venezuela's lead, other countries have been trying to issue a legal digital tender, including Cambodia”, and announces deputy prime minister Men Sam An as the event’s keynote speaker.
News of the summit quickly spread to multiple bitcoin-related news websites and was picked up by the UK-based newspaper The Telegraph, which said that Cambodia was “expected to follow Venezuela with plans for a national cryptocurrency.”
But representatives from the National Bank of Cambodia (NBC) and Securities and Exchange Commission of Cambodia (SECC) denied those claims today, saying that the government was not involved in the summit or with Entapay, and that there were no plans to develop a national cryptocurrency.
NBC's stance on cryptocurrency remains the same: we consider this to be a risky instrument and do not encourage the public to get involved, or do so at their own risk.
General director, Central Bank
Sok Dara, deputy director general of the SECC, also said that his agency had never approved the project.