Cambodia's Parliament Approves Stricter Penalties for Crypto Scammers

Cambodia's Senate has passed a draft bill that could impose severe prison sentences and fines on individuals involved in cryptocurrency scams. The legislation aims to address scam centers and improve the country's response to fraud.

• Cambodia's Senate passed a draft bill targeting crypto scammers with prison terms and fines.
• The bill requires royal approval before becoming law.
• Penalties include two to five years in prison and fines up to $125,000.
• The legislation aims to address gaps in current laws and improve fraud prevention.
• The Cambodian government previously downplayed scam operations as labor disputes.
• The bill follows UK sanctions against Cambodia-based scam operators and an extradition to China.