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SECC warns against cryptocurrency trading

SECC warns against cryptocurrency trading

The Securities and Exchange Commission of Cambodia (SECC) has warned the public to be cautious and avoid speculating in cryptocurrency trading, noting that the market remains unregulated.

“[We] would like to appeal to the public to be highly cautious in involving with trading of any cryptocurrencies that eventually could lead to losses,” the SECC said in a statement on Tuesday.

Last month, Hong Kong-based risk management company CamNext Global signed an MoU with the SECC to study the best way of enabling cryptocurrency use in Cambodia, including the possibility of setting up a licensed cryptocurrency exchange in the country.

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