The tokenization or digital representation of real-world assets (RWAs) is an emerging area that intersects property, securities and digital-asset regulation. We advise clients exploring RWA structures linked to Cambodian assets on the current legal perimeter, including the treatment of digital tokens under NBC and SERC rules, the underlying property or contractual rights, and the documentation required to create a credible and compliant structure. This includes advice on whether a particular tokenization falls within SERC’s digital-asset regime (Prakas 093) or NBC’s crypto-asset rules, the necessity of sandbox testing, custody arrangements, and the enforceability of on-chain rights against off-chain Cambodian assets (land, receivables, inventory). Regulatory clarity continues to evolve; we help clients proceed cautiously, lawfully and with clear documentation of the legal claims underlying any token.