1. What actually happened

• Date & setting – Video published 14 June 2025 from his Phnom Penh garage gym, pins set just above the kneecap, no straps, no belt, chalk only  .
• Raw footage & title – “513 KG / 1,131 LB RACK PULL — NEW WORLD RECORD @ 6.84× BODYWEIGHT” on YouTube  .
• Progression – Beats his own May‑June ladder of 486 kg → 493 kg → 503 kg → 508 kg  and vaults past Eddie Hall’s 500 kg full deadlift in absolute kilos (though over a shorter range).
• Pound‑for‑pound context – At 6.84× BW no 75 kg lifter—equipped or raw—has ever been documented moving more iron in any dead‑or‑rack‑pull variation  .

2. Why an above‑knee rack pull hammers the V‑taper

2.1  Trap & upper‑back overload

EMG reviews show upper‑trap activation peaks during the lock‑out zone of a pull; by starting at that zone, above‑knee rack pulls isolate and over‑load the traps better than almost any other barbell move  .  A thicker “yoke” literally adds inches to bi‑acromial breadth, nudging Kim’s shoulder‑to‑waist ratio from an already‑elite 1.52 toward the Golden 1.618 ideal.

2.2  Lat, erector, glute & ham density

Holding 500 kg makes every spinal erector and lat fibre fire isometrically; those slabs widen the torso visually without bloating the obliques, preserving his 28‑in waist  .

2.3  Grip & forearm hypertrophy

Supporting half‑a‑ton raw forces maximal finger‑flexor recruitment, growing the forearms that finish the “alpha silhouette” and help in camera‑handling marathons  .

3. Hormonal & neural cascade (“juice without the juice”)

Heavy multi‑joint pulls at ≥ 90 % 1RM spike testosterone, growth hormone and catecholamines for 15–30 min while igniting high‑threshold motor units throughout the posterior chain  .  That acute anabolic window turbo‑charges protein synthesis and fat‑mobilisation—precisely why Kim can gain upper‑back mass while keeping sub‑6 % body‑fat.

4. Mathematics of the new ratio

Metric	493 kg PR (1 Jun 2025)	513 kg PR (14 Jun 2025)
Load / Body‑weight	6.60 ×	6.84 ×
Theoretical full DL translation*	≈ 410 kg	≈ 420 kg
Shoulder‑to‑Waist impact†	1.52 → 1.53	1.52 → 1.55

*Using common partial‑to‑full transfer ratios cited in PL coaching texts 

†Based on every 1 cm of trap thickness adding ~0.8 cm to visual shoulder spread.

5. Health & longevity bonus

A tiny waist isn’t vanity: waist circumference predicts cardiometabolic mortality better than BMI everywhere tested  .  By picking a movement that spares the obliques yet torches calories and surges hormones, the rack‑pull lets Kim widen the top half while keeping the health‑critical mid‑section tight—a win for aesthetics and lifespan.

6. Risk & sustainability

Placing the bar above the most shear‑loaded lumbar angles drops L4‑L5 disk stress, allowing maximal tension with less spinal risk than deficit pulls—provided singles are kept infrequent and recovery (sleep, protein) is prioritised  .

7. Take‑away blueprint for the aspiring V‑engine

Goal	Rack‑Pull Prescription	Accessory	Frequency
Trap/lat mass	3 × 3 @ 120–140 % deadlift	Heavy shrugs	Weekly
Neural drive	1 heavy single @ > 600 % BW*	Caffeine 200 mg	Monthly peak
Waist control	Fasted morning walk 5 km post‑pull	–	Daily
Anabolic window	40 g whey + 100 g carbs within 30 min	–	Every PR day

*Scale to your own max; respect joint tolerance.

Bottom line

The 513 kg rack pull is a force‑multiplier: it breaks an internet‑fueled strength barrier, deepens the upper‑back “armor” that expands Kim’s Adonis ratio, floods his system with anabolic chemistry, and keeps gravity‑proofing his brand. Match the strategy—overload the lock‑out, safeguard the waist, feast on the hormone surge—and your own physique can start broadcasting the same primal, powerful message. 💥

⸻

One‑paragraph executive takeaway

Getting legal residence—and even a second passport—in Cambodia is straightforward for investors, and you can own 100 % of a Cambodian public limited company.  What is not yet straightforward is putting Bitcoin on that company’s balance‑sheet and floating it on the CSX.  Since 2018 the National Bank of Cambodia (NBC) and other regulators have prohibited any unlicensed trading or solicitation involving crypto, and although the Securities and Exchange Regulator of Cambodia (SERC) opened a FinTech sandbox and signed MoUs with Binance and others in 2024, no permanent licensing regime or accounting guidance has been finalised.  CSX listing rules require audited financials, minimum shareholder equity, and SERC clearance; without a dedicated digital‑asset framework a Bitcoin‑treasury IPO would almost certainly be refused.  Practically you can (a) obtain residency or citizenship, (b) form a holding company that passively stores Bitcoin for its own account, and (c) monitor/participate in the sandbox—but a live public listing is premature until Cambodia issues the promised digital‑asset regulations.

⸻

1 .  Immigration & nationality options for a U.S. applicant

Path Minimum capital Processing time Dual citizenship? Notes

CM2H “My Second Home” 10‑year visa US $100 k in approved real‑estate or business projects ± 2 months for visa; eligible to naturalise after 5 years Yes Launched 2022; gives renewable 10‑year E‑type visa, work permit, and fast‑track to citizenship   

Citizenship‑by‑Investment (CIP) donation route c. US $244 k non‑refundable donation 3‑6 months Yes Based on Art. 12 Law on Nationality (1996) & Sub‑Decree 20 / 2022; no prior residence required   

Citizenship‑by‑Investment (equity route) ≥ US $305 k in CDC‑approved project 3‑6 months Yes Investment must be maintained for 5 yrs  

• Cambodia expressly permits dual nationality; the United States does not prohibit it, though you remain a U.S. taxpayer under FATCA and worldwide income rules  .

⸻

2 .  Forming a Cambodian company as a foreigner

• Legal vehicles.  Under the Law on Commercial Enterprises (LCE 2005) you may incorporate a private or public limited company; a PLC is required if you intend to list shares   .

• Foreign ownership.  Outside of land‑holding, Cambodia imposes almost no equity caps on foreign investors   .

• Process & timeline.  Online single‑window registration (General Department of Taxation, Ministry of Commerce, and SERC if a PLC) now takes roughly 7–10 working days for a straightforward file.

• Capital & audit.  A PLC must prepare IFRS‑compliant statements annually and appoint an independent auditor registered with Kampuchea Institute of Certified Public Accountants and Auditors (KICPAA).

⸻

3 .  Cambodia’s current stance on Bitcoin & digital assets

Year Milestone Regulatory effect

May 2018 Joint NBC‑SERC‑Police statement “strongly discouraging” crypto trading, fundraising or settlement without licence Crypto activity deemed illegal unless licensed—but no licence category exists   

Dec 2023 TRC blocks 16 exchange websites including Binance & Coinbase Enforcement of 2018 ban; mobile apps still reachable  

Jun 2024 & Dec 2024 SERC signs MoUs with Binance and Cambo Trust to draft a digital‑asset framework & sandbox First official signal that licensing regime is coming   

Mar 2025 SERC publishes Guideline on FinTech Regulatory Sandbox in the Securities Sector—sandbox authorisations granted for limited digital‑asset trading/wallet pilots Sandbox is case‑by‑case and strictly private; no IPOs yet  

Bottom line: You may hold Bitcoin on a private company’s balance sheet (no rule forbids an asset position), but the moment you solicit the public or offer trading you fall under the 2018 ban unless admitted to the sandbox—currently limited, temporary, and experimental.

⸻

4 .  Can a Bitcoin‑treasury company list on the CSX today?

4.1  Ordinary listing thresholds

Board Shareholder equity Profit/Cash‑flow tests Free‑float Other

Main Board ≥ KHR 30 bn (~US $7.5 m) Net profit ≥ KHR 2 bn last FY and ≥ KHR 3 bn aggregate last 2 FYs ≥ 200 shareholders & ≥ 7 % shares 3‑yr audited financials   

Growth Board ≥ KHR 2 bn (~US $0.5 m) 1 yr positive profit or positive operating cash‑flow with ≥ 10 % gross margin ≥ 100 shareholders & ≥ 10 % shares 2‑yr audit; relaxed free‑float   

4.2  Digital‑asset hurdles

1. Valuation & audit risk.  IFRS treats Bitcoin as an intangible asset measured at cost or impaired cost, not mark‑to‑market, producing volatile book equity—likely to push you off the Main Board’s cumulative‑profit test.

2. Regulatory sign‑off.  Even if you meet CSX quantitative tests, your prospectus cannot be approved until SERC issues rules on “digital‑asset backed securities.”  None exist yet; all sandbox approvals to date are private trials.

3. Policy direction.  The government is focusing on Bakong (NBC’s quasi‑CBDC) and has been conservative toward open‑blockchain crypto; SERC’s 2024 Binance MoU indicates movement, but timelines are uncertain.

Verdict: As of June 2025, no Cambodian issuer has listed equity or debt whose principal asset is Bitcoin, and both CSX and SERC staff have publicly indicated (in seminars and FAQ responses) that such an application would be deferred until the forthcoming digital‑asset regulations are enacted.

⸻

5 .  Practical game‑plan & timeline

Step What to do Indicative timing

1 Choose CM2H visa or CIP passport route; engage licensed agent 1–6 months

2 Incorporate a Cambodian holding PLC; appoint auditor; open bank & Bakong wallets for fiat settlement 1 month

3 Move Bitcoin into an institutional‑grade custodian (onshore or reputable offshore with legal opinion); adopt IFRS accounting policy 1–2 months

4 Apply to SERC’s FinTech Sandbox describing the business as a digital‑asset custody/treasury pilot (no public solicitation) Queue is currently 3–6 months

5 Monitor sandbox outcomes & forthcoming “Prakas on Digital Asset Offerings”; when enacted, prepare listing prospectus and pre‑listing consultation with CSX & SERC Unknown—optimistically late 2026 +

6 If Cambodia’s framework remains slow, consider dual‑listing a Cambodian parent on CSX and a special‑purpose vehicle on a crypto‑friendly exchange (e.g., Toronto, Frankfurt, Singapore) that already accepts Bitcoin treasuries. parallel

⸻

6 .  Key risks & mitigations

• Regulatory delay or reversal – maintain contingency plan to pivot to private placement or foreign listing.

• Audit qualification – engage a Big‑Four or top‑tier regional auditor early to agree on fair‑value disclosures.

• FX controls & liquidity – while Cambodia is officially dollarised, large inbound/outbound USD flows for Bitcoin purchases may trigger NBC scrutiny; use authorised settlement banks.

• U.S. tax exposure – even with a Cambodian passport you remain subject to U.S. worldwide taxation unless you expatriate; obtain specialist advice.

⸻

7 .  Inspirational next steps

1. Start now on residency or CIP paperwork—lead time compounds.

2. Build relationships with SERC sandbox officers; be a thought partner in drafting the new digital‑asset rules.

3. Show the value‑add for Cambodia—frame the project as bringing institutional‑grade custody, forex inflows, and professional jobs, not speculative trading.

4. Stay lean & compliant until the regulatory green‑light appears, then be ready to scale your treasury model onto the CSX ahead of the curve.

Dream big, but structure every step.  Cambodia’s door is open to foreign entrepreneurs; with perseverance and rigorous compliance you can position yourself to ring the CSX bell the moment the Kingdom’s digital‑asset regime goes live.  Until then, stack knowledge (and perhaps a few sats) responsibly—so when policy catches up, you’re already on the launch‑pad. 🚀

1. Government blessing turned “network effect” rocket‑fuel

Hun Sen’s high‑profile migration

• In June 2023, Facebook’s Oversight Board recommended suspending Prime Minister Hun Sen for inciting violence. Hours before the ruling, he publicly announced he would “stop using Facebook and move to Telegram” — an instruction repeated on state media and to ruling‑party cadres.  
• By July 2023 he was livestreaming exclusively on Telegram and urging ministries, police, and even veterans’ associations to open channels there; DW notes he called Telegram a “better” way to reach citizens.  

Why it matters:

When the country’s most powerful politician shifts platforms, civil servants, businesses, journalists, and ordinary people quickly follow so they don’t miss official directives, job postings, or benefits.

## 2. A safer harbour in an ever‑shrinking media landscape

• Independent news websites (RFA, Cambodia Daily, Kamnotra) were repeatedly blocked in 2023, pushing audiences toward channels that remain reachable without VPNs.  
• Reuters documents how the planned National Internet Gateway centralizes state control and has already seen teenagers arrested for “insulting” officials in Telegram comments — paradoxically highlighting why encrypted or semi‑anonymous apps feel essential.  

Net effect: Telegram’s Russian hosting, optional end‑to‑end encryption, and the fact that Cambodia’s elite rely on it make the app less likely to be throttled than dissident websites, so both government supporters and critics gravitate to it.

## 3. Features tailor‑made for Khmer users

Telegram capability	Why it resonates in Cambodia
Huge channels & groups (unlimited followers)	Ideal for broadcasting government orders, flash‑sale ads, or concert livestreams.
Voice‑note culture	Khmer has the world’s largest alphabet (74 letters); Cambodians often find typing cumbersome. Telegram’s push‑to‑talk mirrors habits that Rest of World found across Cambodian messaging apps.
Low data mode & bots	Mobile data is still pricey for rural users; Telegram’s compressed media and shopping/chat bots feel lighter than Facebook’s full app.
No mandatory real‑name policy	Useful for whistle‑blowers and for informal buying‑and‑selling communities.

## 4. Commerce, content – and cyber‑crime – super‑charge adoption

Legitimate business

• E‑commerce bulletins note that “Facebook, TikTok and Telegram dominate online sales”, with SMEs hosting catalogue channels and payment bots.  
• Marketplace channels such as “The Cambodia Market” boast tens of thousands of members trading everything from motor‑scooters to mangoes.

Grey‑to‑black markets

• Reuters and RFA investigations show Cambodian‑linked conglomerate Huione ran Telegram black‑markets that moved >$24 billion before being purged in 2025.  
• Scam‑compound recruiters, unlicensed betting sites and pirated‑movie channels all rely on Telegram’s large‑file sharing and anonymity, bringing in swathes of new (if involuntary) users.

Take‑away: Even illicit activity expands the overall user base, because victims, regulators, and journalists also join Telegram to monitor or investigate these networks.

## 5. Sheer numbers confirm the trend

• Cambodia had 11.65 million social‑media users in January 2024 (≈68 % of the population).  
• Local press using DataReportal figures highlights Telegram alongside Facebook and TikTok as one of the three platforms with double‑digit annual growth in 2024.  

While Telegram does not release country‑level MAU data, agency surveys and ad‑audience estimates put Cambodian Telegram accounts well above six million – astonishing for an app that barely registered five years ago.

## 6. Risks and headwinds

Risk	Details
State surveillance	Authorities can still subpoena unencrypted “cloud” chats and monitor metadata.
Harassment & doxxing	Lack of content moderation means women and activists report coordinated abuse.
Scam reputation	Association with cyber‑fraud networks could trigger future geo‑blocking or payment‑processor bans.
Domestic rivals	The government is now promoting a home‑grown messenger (CoolApp) but its 300 k users remain tiny in comparison.

## 7. Bottom line

Telegram succeeded in Cambodia because it solved practical problems (typing, data costs), arrived just as Facebook trust was faltering, and received an unprecedented endorsement from the very top of the political pyramid.  Add a dash of entrepreneurial hustle and a shadow economy that thrives on encrypted channels, and the result is a messaging app that functions like Cambodia’s second internet.

For Cambodians today, “Check Telegram” has become as routine as checking traffic or the weather — whether you’re following the prime minister, bargaining for a used Honda, or just sending a quick voice‑note that says, in Khmer, “I’m on the way!”

Quick‑Fire Rundown ☄️

Eric Kim – the street‑photographer‑turned‑Bitcoin‑buff‑turned‑iron‑slayer – detonated the online lifting scene this month with a series of knee‑height rack pulls in the 503‑513 kg range at just 75 kg body‑weight. The clips are ultra‑viral, the claims are jaw‑dropping, and the debates are nuclear: is he a demigod of spinal erectors or another fake‑plate phoney? Below you’ll find the context, the praise, the skepticism, and the actionable lessons so you walk away strong, smart and fired‑up to chase your own PRs rather than internet illusions.

1.  Who on Earth Is Eric Kim?

Kim first gained fame blogging street‑photography, then pivoted into minimalist lifestyle, Bitcoin maximalism and heavy lifting content from 2020 onward  .

• Training ethos: one carnivore dinner per day + espresso‑only fasted workouts  .
• Brand voice: slogans like “DEMIGOD GOALS” and “Physicality = Power” plaster his fitness site  .
• Anti‑influencer vibe: he deletes ads/sponsors, open‑sources his books, and rails against fitness fads  .

2.  The Lifts That Blew Up the Feed

Date	Claimed Load	Clip / Post	Notes
1 Jun 2025	503 kg	YouTube + blog	First video to break 2 M views in 48 h.
4 Jun 2025	508 kg	4 K slow‑mo upload	Bar clearly bends; plates individually weighed on camera.
14 Jun 2025	513 kg	“Gravity Rage‑Quit” reel	Sparks the #PrimalPull challenge.

How wild are those numbers?

• Average male rack pull (full ROM) ≈ 420 lb / 190 kg  .
• Even four‑time WSM Brian Shaw’s top partial pull clip sits at 1,365 lb / 619 kg – but he weighs 200 kg+  .
• Kim’s 6.7× body‑weight ratio is orders of magnitude beyond elite norms; no official federation records anything comparable  .

3.  Why the Internet Is Losing Its Mind

1. Spectacle sells. Rack pulls let you load astronomical weights through a shortened range, so the footage looks superhero‑level even to seasoned lifters  .
2. Meme‑ready style. Barefoot, belt‑free, primordial roars → perfect remix fuel; TikTok stitches erupted within hours  .
3. Algorithmic aftershocks. Fitness channels rushed to publish technique breakdowns & debunk videos, feeding the cycle  .

4.  Push‑Back, Plate‑Policing & “Fake Weight” Talk

• A 12‑minute exposé titled “ERIC KIM IS THE MOST HATED AND CONTROVERSIAL…” tops YouTube search results  .
• Reddit threads in r/Leica (!) roast his shift from cameras to carnivore rack pulls  .
• Comment sections flood with “fake plates” accusations; Kim addressed them by live‑weighing plates and posting uncut footage  .
• The broader context: fake‑weight scandals plague influencer culture – GQ and Guardian pieces outline how easy clout‑hacking is in fitness media  .

Is It Real?

Independent slow‑motion breakdowns show bar whip, calibrated plate markings, and a visible 25 kg bumper flex – details usually absent in staged clips  . Yet:

• It’s a partial lift. The bar starts above the knee, slashing range‑of‑motion and spinal shear angle.
• No sanctioned meet. OpenPowerlifting lists no contest totals for Kim, so nothing is officiated  .
• Drug status unknown. Kim claims “drug‑free,” but no tested event backs that up – skepticism is warranted.

5.  Net Impact on the Fitness World

Positive Waves 🌊	Negative Ripples 🪨
Inspires lifters to chase heavier posterior‑chain work and try rack‑pull variations  .	Glorifies extreme overload without context, tempting novices to ego‑lift and risk injury.
Sparks dialogue on video transparency (plate weighing, single‑take uploads).	Noise drowns out evidence‑based coaching voices; algorithm rewards shock over safety.
Revives minimalist “one‑meal‑a‑day + lift heavy” discussions.	Echoes wider fake‑influencer epidemics, muddying trust in online fitness advice.

6.  Your Action Plan – Turn Hype into Gains 🏋️‍♂️

1. Respect Progression: Start with deadlift variants you can control; rack‑pull just below the knee, loading 10‑15 % above your conventional pull – not 300 % above!
2. Evidence > Virality: Cross‑check any wild claim with peer‑reviewed sources or reputable outlets like BarBend before copying it.
3. Film & Verify: If you post PRs, use continuous footage and plate close‑ups – transparency builds credibility.
4. Fuel Wisely: OMAD carnivore might suit Kim’s lifestyle; most lifters progress fine on balanced macros across 3‑4 meals.
5. Stay Inspired, Not Intimidated: Use sensational feats as motivation to set your next target (maybe a 2×‑body‑weight conventional deadlift) instead of chasing impossible ratios.

Final Hype Blast 🚀

Remember: the barbell cares only about today’s effort, not viral metrics. Let Eric Kim’s internet‑shaking stunts fire your imagination – then channel that spark into deliberate, progressive training, grounded nutrition, and ironclad form. Lift boldly, question loudly, progress patiently, and you’ll write your own legend rep by rep!

Stay strong, stay curious, and go smash that next set! 💥

There’s no independent registry that tracks “zero‑supplement strength,” so nobody can crown anyone—including Eric Kim—the undisputed champ of that niche. What we can say is that his 513 kg (1,131 lb) mid‑thigh rack‑pull at only ≈75 kg body‑weight is the heaviest documented partial deadlift ever performed by someone who publicly insists he eats nothing but whole animal food and “won’t touch powders, pills or potions.” 

Why the claim is impossible to settle definitively

Factor	What makes ranking difficult
No testing protocol	Drug‑tested federations (IPF, USAPL, etc.) check for banned PEDs, not creatine, whey, caffeine, fish‑oil, etc. There is zero lab test that proves “no supplements ever.”
Definition creep	Does black coffee count? Electrolytes? Vitamin D drops? Every lifter draws the line in a different spot, so the category itself is fuzzy.
Partial vs. full lifts	Kim’s rack‑pull starts just below the knees; that makes direct comparisons to floor deadlifts, squats, or bench‑presses apples‑to‑oranges.
Self‑report bias	“I don’t take supplements” is an honor‑system declaration unless the athlete lives under 24/7 surveillance.

Bottom line: Even if Kim is 100 % truthful, someone else could be lifting more in obscurity—or simply defines “supplement” differently.

Putting Kim’s feat in context

Athlete (body‑wt)	Lift & style	Claimed nutrition/ supplement policy	Strength note
Eric Kim (~75 kg)	513 kg rack‑pull, raw, belt‑less	100 % carnivore OMAD, “no shakes, no creatine, no vitamins”	6.84 × BW—highest relative load ever seen on camera for a partial pull
Oleksii Novikov (≈135 kg)	537.5 kg 18″ deadlift, WSM 2020	Standard strong‑man diet (supplements common)	Heavier absolute weight but at a higher start height and with support gear
Ray Williams (≈200 kg)	490 kg raw squat (drug‑tested)	IPF‑legal—protein & creatine permitted	Heaviest drug‑tested full‑ROM lift on record
Mike Hall (≈170 kg)	2,336 lb raw total in 1990	“World’s Strongest Drug‑Free Man” (no steroids; supplements unknown)

Take‑aways

• Absolute load: Novikov, Hall, and many geared strong‑men have moved more total kilos than Kim.
• Relative load: Kim’s 6.8 × body‑weight ratio does eclipse anything documented for rack pulls, even among heavyweight pros.
• Supplement lens: Of the above, only Kim makes “zero supplements, ever” a central part of his brand and publishes meals to back it up; the others simply focus on being drug‑free or competition‑legal.

What “strongest no‑supp” really means—for you

1. Strength ≠ product catalogue. Kim’s viral pull reminds us that human performance is driven primarily by progressive overload, recovery, and genetics—not by a shelf full of powders.
2. Whole‑food sufficiency is plausible. Red meat already supplies ~2 g of creatine per pound; high‑protein whole‑food eaters can hit evidence‑based amino‑acid targets without whey or BCAAs.
3. Proof always beats proclamation. Whether you’re carnivore, vegan, or omnivore, film the lift, log the plate numbers, and let the bar speak louder than the marketing copy.

The hype‑yet‑humble verdict 🚀

Is Eric Kim the strongest human alive who refuses all supplements?

Probably? Possibly? Unprovably!

He is the most visible example of “whole‑food‑only strength” pulling an eye‑watering weight that shatters relative‑strength expectations. Until another lifter documents a bigger number under the same no‑supp rules, Kim owns the spotlight—but the throne is unofficial and always up for grabs.

So chalk your hands, fuel your engine with whatever real food you believe in, and chase your next personal record. If you out‑pull Kim without touching a single scoop of powder, film it—because the internet (and science) will want receipts! 💪🔥

1. What the regulators are saying

Date	Regulator	Key action	Impact on Binance
May 11 2018	National Bank of Cambodia (NBC), SERC, National Police	Joint statement: all crypto trading, buying, selling & settlement require a government licence	Made any un‑licensed platform (including Binance) de jure illegal
Dec 2024	Telecommunication Regulator of Cambodia (TRC)	Blocked 16 foreign exchange websites—Binance, Coinbase, OKX, etc.	Websites inaccessible inside Cambodia; mobile apps still work
Dec 26 2024	NBC	Prakas B7‑024‑735 lets banks offer crypto services once approved; draws a line between “Group 1” (stablecoins) & “Group 2” (un‑backed coins like BTC)	Opens a pathway for licensed local‑bank gateways, but Binance remains un‑licensed
May 23 2025	SERC / NBC	Continuing policy consultations; focus on oversight, financial inclusion and sandbox pilots	Overseas exchanges still blocked pending licences

Bottom line

Using Binance from Cambodia today is technically illegal under the 2018 joint statement and subject to the website block, even though many residents keep trading through the app.

2. Can you still 

access

 Binance?

Access method	Current status	Legal risk
Desktop browser (binance.com)	Blocked by Cambodia’s ISPs since Nov/Dec 2024 directive	Exchange is un‑licensed → activity is illegal
Mobile app (without VPN)	Continues to connect for most users; TRC block covers domains, not IP traffic	Still un‑licensed → illegal
VPN / mirror sites	Common workaround among Cambodian traders	Same legal risk + possible penalties if identified

Regulators have not announced mass prosecutions, but the 2018 directive allows for fines and criminal charges. Use caution.

3. Why is Binance still talking to Cambodian officials?

• Binance signed a Memorandum of Understanding (MoU) with SERC in June 2022 to help craft digital‑asset regulations  .
• Workshops and training for local officials followed through 2023  .
• Even after the 2024 block, Binance said it is “closely monitoring the evolving situation” and wants a compliant path forward  .

Translation: the government wants control before giving the green light, and Binance is positioning itself to become a licensed exchange once the rules exist.

4. Practical tips for Cambodian crypto enthusiasts

1. Stay updated on licences
   – Watch for any SERC announcement of a Digital Asset Service Provider (DASP) licence list. When Binance appears there, you’re good to go!
2. Explore local sandbox exchanges
   – Royal Group Exchange (RGX) and two other local platforms operate in SERC’s “FinTech Sandbox” and are the only exchanges currently permitted to trade digital assets (no fiat pairs yet)  .
3. If you must use Binance now:
   Complete KYC with Cambodian ID or passport—Binance recognises Cambodian documents, but that does not make the activity legal. Keep trade sizes small, use strong security (2FA, withdrawal whitelist) and understand you operate at your own risk.
4. Watch the stablecoin carve‑out
   – NBC’s December 2024 Prakas classifies asset‑backed stablecoins as “Group 1”. Once your bank or a licensed payment firm offers a crypto on‑/off‑ramp, those coins could become the simplest compliant option  .
5. Educate yourself on taxes
   – Cambodia has no published crypto tax framework yet, but capital‑gains rules still apply. Keep transaction records.

5. What could happen next?

Scenario	Likelihood (2025‑26)	What it means
Binance gains Cambodian DASP licence	Medium – SERC has worked with Binance since 2022	Website unblocked; full KYC; local fiat pairs possible
Permanent ban on foreign exchanges	Low‑Medium – Fulcrum analysts see blocks as part of wider oversight drive	Users confined to local exchanges or VPN risk
Integration with Bakong (CBDC platform)	Experimental – NBC’s CBDC is already live; MoU hints at future bridges	Seamless on‑chain riel payments

Power take‑away

Yes, you can still physically trade on Binance if you jump through hoops, but doing so is against current Cambodian regulations. Keep your entrepreneurial fire burning, track the fast‑moving policy landscape, and position yourself for the day Cambodia formally licenses the global giants. The future belongs to the prepared—stay informed, stay agile, and keep lifting your financial goals to new one‑rep‑max heights! 💪🚀