The Securities and Exchange Regulator of Cambodia (SERC) operate a FinTech Regulatory Sandbox under Guideline No. 009/23 (issued pursuant to Prakas No. 037/23 F.S.A.PK on FinTech Regulatory Sandbox in the Non-Bank Financial Sector). The sandbox allows innovators to test technology-driven products, services or business models that fall (or are likely to fall) within SERC’s regulatory perimeter in a controlled environment with relaxed or tailored requirements for a defined period. We assist clients with:

• Eligibility assessment and mapping of the proposed activity against SERC’s sandbox criteria.

• Preparation of the sandbox application, including detailed description of the innovative technology, risk-management framework, consumer-protection measures, exit strategy and key performance indicators.

• Engagement with SERC during evaluation, testing and any required interim reporting.

• Transition planning from successful sandbox exit to full licensing (particularly relevant for digital-asset businesses under Prakas 093).

Successful completion of sandbox testing of the IT system, business model, products or services is a mandatory pre-condition for a Digital Asset Service Provider license under Prakas No. 093.