Cambodia advances strict crackdown on cryptocurrency fraud bill, with maximum sentence of life imprisonment According to a report by Golden Finance, the Cambodian parliament has unanimously passed a new bill to combat online fraud, which targets large-scale fraud park operators who use cryptocurrency assets and can be sentenced to up to life imprisonment. The bill is still pending review by the Senate and final approval by King Norodom Sihamoni. According to the bill, the core leaders of fraud groups will face 15 to 30 years in prison, and if death is caused, they can be sentenced to life imprisonment; The organizers can face a maximum sentence of 20 years and a hefty fine, while participants may also face a sentence of 2 to 5 years and a maximum fine of $125000. Analysis points out that in recent years, encrypted fraud such as "pig killing" has rapidly spread in Southeast Asia, relying on encrypted assets to achieve cross-border transfer and money laundering, with an annual amount of tens of billions of dollars involved. Such crackdown actions may lead to the "transfer rather than disappearance" of fraudulent activities, and the key lies in whether to simultaneously crack down on corruption protection, money laundering networks, and cross-border fund circulation systems.