The cryptoexchanges of the Kingdom of Cambodia are required to have a license in order to legally operate.
Currently, COINYEX Co. Ltd, which is scheduled for launch in September, is the only cryptoexchange to have already filed that license application. The company has officially entered into the stage of application processes to legalize the operations of the cryptoexchange.
TUX GLOBAL sdn.bhd, which is the firm that issues TOUREXCOIN, plans to launch the aforementioned cryptoexchange in the Kingdom of Cambodia next month.
The license application has been filed with the National Bank of Cambodia, along with the country’s Securities and Exchange Commission, and the General-Commissariat of National Police, the three authorities of the kingdom that the exchange has to obtain an approval from and prove that the company is not attempting to pull off a fraudulent scheme, commit cyber crime or engage in money laundering.
Subsequent to acquiring the license, COINYEX Inc. intends to make TOUREXCOIN the main digital currency as well as provide services for a variety of others.
As of the TOUREXCOIN’s progress, the currency is at the last stage of becoming listed at cryptoexchanges.