The National Bank of Cambodia (NBC) has announced that troubled payment service institution Huione Pay Plc. has completely repaid its debts to customers. The NBC also reiterated that no financial institutions have been authorised to provide services related to crypto assets.
A December 3 NBC press release followed a public furor that erupted a few days ago, when Huione customers claimed they were unable to withdraw money, following the company’s announcement of the temporary suspension of operations.
The release noted that the NBC revoked Huione Pay Plc.’s operating license on September 25.
“[The company] has fulfilled the obligations of liquidation to dissolve the institution according to legal procedures, audited by Reachs & Partners Co., Ltd, pursuant to the decision dated June 19, 2025, by the Ministry of Commerce,” it said.
“In this sense, all payment obligations to creditors, including customers, of the Payment Service Institution Huione Pay Plc. have been fully completed in accordance with legal procedures,” it continued.
Additionally, the NBC said it has observed the circulation, trading or payment of crypto assets, which is contrary to the content of an NBC Prakas (proclamation) dated December 26, 2024, regarding “Operations Related to Crypto Assets”, and a May 11, 2018 joint statement from the NBC, the Securities and Exchange Commission of Cambodia, and the General Commissariat of National Police.
The NBC emphasised that actions that run contrary to the Prakas and the joint statement could pose risks to the banking system in Cambodia, as well as the general public.
“The National Bank of Cambodia wishes to inform that, as of the present, no banking or financial institutions have received our permission to provide services related to crypto assets,” said the release.
“The NBC would like to remind the public, as well as all banking and financial institutions, to exercise high caution regarding operations related to crypto assets and to continue to strictly implement the spirit of the content of the regulations and the Joint Statement mentioned above,” it added.
