Rumours circulate on cryptocurrency in Cambodia
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Rumours circulate on cryptocurrency in Cambodia
There have been a number of articles in the press recently, with claims and denials issued, relating to the cryptocurrency situation in Cambodia.
Rebuffed cryptocurrency company Entapay claims support from RCAF
16 March 2018
The strange saga of cryptocurrency company Entapay falsely claiming the endorsement of the Cambodian government continued yesterday when the firm issued a press release alleging that it had the support of the Royal Cambodian Armed Forces (RCAF) – a claim denied by military officials.
Entapay’s press release says that company officials met a “Benxian Xing”, who they said was a deputy commander of RCAF and head of the Royal Gendarmerie. The release claimed the meeting “signifies the Cambodia Blockchain Industry Development Association and Entapay have gained the Support of the Cambodian Military”.
No Cambodia general named Benxian Xing appears to exist, but on the “Acknowledgements” section of Entapay’s website, there is a picture of Hing Bun Heang displayed above that name. Bun Heang is the deputy commander of RCAF and head of Prime Minister HE’s personal Bodyguard Unit.
Chhum Socheat, a spokesman for the Defence Ministry, told The Post that he had not heard of reports of any high-ranking RCAF officers officially meeting with a Chinese company.
It is not the first time Entapay has made claims that were later disputed by government officials. Earlier this month, the company issued a release claiming to be the national cryptocurrency of Cambodia, which was picked up by international media outlets.
http://www.phnompenhpost.com/business/r ... pport-rcaf
National Bank of Cambodia Denies Cryptocurrency
17/03/18 12:19
Phnom Penh (FN), Dec. 29 - The National Bank of Cambodia (NBC) issued an emergency press release on Friday denying the false news that NBC has cooperated with Chaintope Company to launch K-coin cryptocurrency.
Regarding this concern, NBC has strongly condemned any individuals and any companies who used NBC’s name to disseminate such false information and that NBC is also taking legal action against the scam.
Meanwhile, NBC reaffirmed that they have never allowed the purchase and circulation of any form of cryptocurrencies, including the mentioned K-coin.
NBC released a resolution on Dec. 7 to all banks and micro-finance institutions in Cambodia to ban the trading of Crypto currency such as Bitcoin.
The National Bank of Cambodia added that any Cambodians who trade Crypto currency would face unknown risks as they could be associated with terrorism and black market.
=FRESH NEWS
http://en.freshnewsasia.com/index.php/e ... rency.html
Rebuffed cryptocurrency company Entapay claims support from RCAF
16 March 2018
The strange saga of cryptocurrency company Entapay falsely claiming the endorsement of the Cambodian government continued yesterday when the firm issued a press release alleging that it had the support of the Royal Cambodian Armed Forces (RCAF) – a claim denied by military officials.
Entapay’s press release says that company officials met a “Benxian Xing”, who they said was a deputy commander of RCAF and head of the Royal Gendarmerie. The release claimed the meeting “signifies the Cambodia Blockchain Industry Development Association and Entapay have gained the Support of the Cambodian Military”.
No Cambodia general named Benxian Xing appears to exist, but on the “Acknowledgements” section of Entapay’s website, there is a picture of Hing Bun Heang displayed above that name. Bun Heang is the deputy commander of RCAF and head of Prime Minister HE’s personal Bodyguard Unit.
Chhum Socheat, a spokesman for the Defence Ministry, told The Post that he had not heard of reports of any high-ranking RCAF officers officially meeting with a Chinese company.
It is not the first time Entapay has made claims that were later disputed by government officials. Earlier this month, the company issued a release claiming to be the national cryptocurrency of Cambodia, which was picked up by international media outlets.
http://www.phnompenhpost.com/business/r ... pport-rcaf
National Bank of Cambodia Denies Cryptocurrency
17/03/18 12:19
Phnom Penh (FN), Dec. 29 - The National Bank of Cambodia (NBC) issued an emergency press release on Friday denying the false news that NBC has cooperated with Chaintope Company to launch K-coin cryptocurrency.
Regarding this concern, NBC has strongly condemned any individuals and any companies who used NBC’s name to disseminate such false information and that NBC is also taking legal action against the scam.
Meanwhile, NBC reaffirmed that they have never allowed the purchase and circulation of any form of cryptocurrencies, including the mentioned K-coin.
NBC released a resolution on Dec. 7 to all banks and micro-finance institutions in Cambodia to ban the trading of Crypto currency such as Bitcoin.
The National Bank of Cambodia added that any Cambodians who trade Crypto currency would face unknown risks as they could be associated with terrorism and black market.
=FRESH NEWS
http://en.freshnewsasia.com/index.php/e ... rency.html
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Re: Rumours circulate on cryptocurrency in Cambodia
K-Coin - National token of Cambodia > > > https://www.acchain.org/en/kcoin_public.html
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Re: Rumours circulate on cryptocurrency in Cambodia
UPDATE: The information in this article concerning Entapay is now being officially denied by the authorities.
Cambodia Issues National Cryptocurrency While Rejecting Other Cryptocurrencies
13 March 2018
As covered, Cambodia recently issued its own national cryptocurrency, the “Entapay.” The national cryptocurrency will reportedly have the potential to overthrow payments giants like VISA. Despite its seemingly forward-thinking approach, the country has been rejecting cryptocurrencies, while embracing blockchain technology.
According to the Pnom Penh Post, the country’s Deputy Prime Minister, Men Sam An, recently encouraged Entapay to follow the country’s laws. This, according to several fintech entrepreneurs the publication spoke to, is easier said than done.
Per In Mean, the lead developer of the Khmer Crypto Foundation, Cambodia’s central bank, the National Bank of Cambodia (NBC), has been reluctant when it comes to cryptocurrencies. So much so, that in December it declared cryptocurrency transactions illegal in the country.
Seemingly, the government doesn’t see Entapay like it sees Bitcoin or Ethereum. The cryptocurrency will have a multi-functional payment system, and offline transactions. Per its website, it has “quantum encryption technology,” and is “expandable” so its future development is “unlimited.”
Users will be able to manage various cryptocurrencies using an Entapay wallet, which means the country’s official stance on the cryptocurrency space may be about to change.
https://www.cryptoglobe.com/latest/2018 ... urrencies/
Cambodia Issues National Cryptocurrency While Rejecting Other Cryptocurrencies
13 March 2018
As covered, Cambodia recently issued its own national cryptocurrency, the “Entapay.” The national cryptocurrency will reportedly have the potential to overthrow payments giants like VISA. Despite its seemingly forward-thinking approach, the country has been rejecting cryptocurrencies, while embracing blockchain technology.
According to the Pnom Penh Post, the country’s Deputy Prime Minister, Men Sam An, recently encouraged Entapay to follow the country’s laws. This, according to several fintech entrepreneurs the publication spoke to, is easier said than done.
Per In Mean, the lead developer of the Khmer Crypto Foundation, Cambodia’s central bank, the National Bank of Cambodia (NBC), has been reluctant when it comes to cryptocurrencies. So much so, that in December it declared cryptocurrency transactions illegal in the country.
Seemingly, the government doesn’t see Entapay like it sees Bitcoin or Ethereum. The cryptocurrency will have a multi-functional payment system, and offline transactions. Per its website, it has “quantum encryption technology,” and is “expandable” so its future development is “unlimited.”
Users will be able to manage various cryptocurrencies using an Entapay wallet, which means the country’s official stance on the cryptocurrency space may be about to change.
https://www.cryptoglobe.com/latest/2018 ... urrencies/
Join the Cambodia Expats Online Telegram Channel: https://t.me/CambodiaExpatsOnline
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Re: Rumours circulate on cryptocurrency in Cambodia
They (Entapay) sponsored a crypto event in PP that was a bit of a flop. Most people attending just went for the freebies and didn’t know anything about crypto for KH.
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