Australia vs Cambodia
Crypto regulation comparison
Australia
Cambodia
Legal
Restricted
Cryptocurrency is legal and well-regulated in Australia. AUSTRAC oversees AML/CTF compliance for exchanges, ASIC handles consumer protection, and the ATO treats crypto as property for tax purposes. Australia has been developing a comprehensive licensing framework for digital asset platforms.
Cambodia has a restrictive stance on cryptocurrency. The National Bank of Cambodia prohibits banks and financial institutions from dealing in crypto, and unlicensed crypto businesses are illegal. However, the government has shown interest in blockchain technology and launched Bakong, a CBDC-like payment system.
Tax Type
Capital gains
Tax Type
Unclear
Tax Rate
0-45%
Tax Rate
N/A
Exchanges
Yes
Exchanges
No
Mining
Yes
Mining
Yes
Regulator
ASIC, AUSTRAC, ATO
Regulator
National Bank of Cambodia (NBC), SERC
Stablecoin Rules
Stablecoins to be regulated under proposed payments framework legislation
Stablecoin Rules
Bakong (CBDC) promoted as alternative; private stablecoins not specifically regulated
Key Points
- Digital currency exchanges must register with AUSTRAC and comply with AML/CTF Act
- ATO treats cryptocurrency as a CGT asset; holding for 12+ months qualifies for 50% discount
- ASIC regulates crypto products that qualify as financial products under the Corporations Act
- Treasury released a token mapping consultation in 2023 to classify digital assets
- Proposed licensing regime for digital asset platforms under development
Key Points
- NBC issued a 2018 directive prohibiting banks from dealing in cryptocurrency
- Unlicensed crypto exchanges and trading platforms are banned
- Bakong digital payment system launched in 2020 using blockchain technology
- SERC (Securities and Exchange Regulator) has discussed regulating crypto as digital assets
- Despite restrictions, peer-to-peer crypto usage remains significant