I thought countries will have penalties and punishment for people that are involved in crypto fraud, this is because cryptocurrencies are money. If you steal or get involved in online criminality involving fiat, crypto or property or money in short, there imare laws that is already existing to teach the person lessons.
But Cambodia national Assembly has draft law to tackle crypto frauds supported by all the 112 lawmakers that were present. Which means this will be in law soon.
You can read about it further:
https://decrypt.co/363244/cambodia-advances-law-targeting-crypto-scam-compound-kingpins-with-life-in-jailWhat do you think about the law? Is it necessary?
But most importantly, necessary or not necessary, this shows how cryptocurrencies is becoming more relevant in the society.
It's interesting to actually see how the governments these days are setting up constitutional and legal avenues to keep crypto clean within their jurisdictions.
That also draws visual possibilities to how the government may have reviews in the crypto industry and inducts encouragement decisions to the public in the future. Some countries who're not supporting the invention today may consider a change of plans there in the future. I began to sense this since there had been these governments who doesn't make crypto illegal but does set legal policies guiding the industry as bitcoin crypto is tied to be money which as a valuable exchange should be regulated.
The penalties endorsement for defaulters such as those involving in illegal transactions such as frauds and money laundering is such a nice development for me, at least it still let the scammers knows that crypto due to its decentralization isn't a comfortable place to carry on illegal activities
