Huione Pay License Revoked, Cambodia Warns of Illegal Crypto Risks Amid Scam Crackdown

PHNOM PENH, Cambodia (Dec. 3, 2025) — Huione Pay PLC was officially stripped of its license in September 2024 and has since completed liquidation under Cambodian law, the National Bank of Cambodia confirmed Wednesday, warning the public about rising illegal cryptocurrency transactions.

NBC said Huione Pay’s dissolution and settlement of obligations were finalized under the supervision of Reaches & Partners Co., Ltd, following a Ministry of Commerce decision dated June 18, 2025. All payments owed to creditors, including customers, were settled as part of the process.

At the same time, the central bank raised concerns about ongoing crypto activity, stressing that no bank or financial institution in Cambodia has been authorized to provide services related to cryptocurrency.

NBC cited its directive issued Dec. 26, 2024, and a joint statement in 2018 with the Securities and Exchange Regulator of Cambodia and the National Police, warning that crypto transactions remain illegal and pose serious risks to the financial system.

The warning comes as Cambodia intensifies efforts to combat online scams and financial crime. Authorities have deported thousands of foreign nationals linked to scam networks, adopted new laws, and formed inter ministerial committees to dismantle trafficking and fraud operations.

Officials say these measures aim to protect consumers, strengthen financial integrity and restore international confidence in Cambodia’s regulatory environment.