Cambodia – The News Desk

In Cambodia’s ‘underground’ crypto economy, Tether becomes coin of choice for Chinese-linked activities

17Dec

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Money

In Cambodia’s ‘underground’ crypto economy, Tether becomes coin of choice for Chinese-linked activities

While currency exchanges in Phnom Penh also offer legitimate trading and a daily workaround to China’s onerous currency controls for the city’s Chinese community, Tether’s role in Cambodia’s vast dark economy is now falling under increasing scrutiny.Playing dirty: China faces off with increasingly sophisticated money launderersIn November, the US Department of Justice seized nearly US$9 million in assets it traced to more than 70 victims of online scams, after conducting an investigation of crypto wallets with Tether Holdings, the company behind USDT, and the crypto trading platform OKX. Tether said it froze an additional US$225 million tied to ‘pig butchering’ cyber scams in Southeast Asia.The US government and Tether did not specify where they traced the assets to, or who might be hol...

China Cracks Down on 'Pig Butchering.' (It Isn't What You Think.)

Beijing is pursuing scam mills that operate out of secretive, dystopian compounds and swindle people worldwide.

IHG to debut Vignette Collection brand in Cambodia and Japan – Business Traveller

IHG Hotels and Resorts has announced plans to bring its fledgling Vignette Collection brand to two new Asian markets. The existing RIHGA Royal Hotel Osaka has joined IHG’s portfolio, and will be repositioned under the Vignette brand in 2025, following “extensive refurbishment”. The hotel is now IHG’s largest in Japan at some 1,039 rooms, and is the group’s seventh property in Osaka. Current features include 18 restaurants and bars, as well several swimming pools and a total of 56 meetings and events spaces. Meanwhile the 50-room room Vignette Collection Phnom Penh Odom is scheduled to open in 2027, and will join the existing Six Senses Krabey Island as the group’s second property in Cambodia. The hotel will be housed within the top seven floors of Odom Tower on Preah Norodom Boulevard, a...