Cryptocurrency Analysis and News Portal
Sri Lanka’s central bank has issued a warning about “the significant risks associated with using and investing in cryptocurrency.” The central bank reminded the public that “cryptocurrencies are unregulated investment instruments which are not recognized as an asset class in Sri Lanka.” Sri Lanka’s Crypto Warning The Central Bank of Sri Lanka
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Billionaire investor and venture capitalist Tim Draper has reportedly attempted to convince the Sri Lankan government to adopt bitcoin. However, the governor of the Central Bank of Sri Lanka rejected his recommendation, emphasizing: “Adoption of 100% bitcoin won’t be a Sri Lanka reality ever.” Tim Draper Suggests Sri Lanka Adopts Bitcoin Billionaire
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On a recent visit to Sri Lanka, American billionaire Tim Draper pitched the idea of adopting Bitcoin (BTC) as a legal tender to fight against the corruption that contributed to hyperinflation in the island country. However, a key Sri Lankan authority — central bank Governor Nandalal Weerasinghe — believed doing
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Sri Lanka’s central bank issued a warning regarding the use of cryptocurrencies amid a devastating economic and political crisis. The central bank stressed that it “has not given any license or authorization to any entity or company to operate schemes” involving cryptocurrencies. Sri Lanka’s Central Bank Issues Notice About Cryptocurrency The Central
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Amid economic and political turmoil, the Central Bank of Sri Lanka, or CBSL, has warned the public against crypto purchases due to the lack of regulatory oversight.In a Tuesday notice, the CBSL said it has not authorized or licensed any company in Sri Lanka to offer crypto-related services, including exchanges,
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A report presented to Sri Lankan central bank governor Ajith Nivard Cabraal on Monday detailed the results of a now-completed Know-Your-Customer, or KYC, proof-of-concept project. The project Sri Lanka's central bank, also known as the CBSL, included 3 collaborators who developed the Blockchain-based KYC platform concept. The KYC platform was also tested by
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Sri Lanka has formed a panel to recommend a regulatory framework covering the growth of digital banking, blockchain and cryptocurrency mining, the government has announced. Fast facts Developing an integrated system of digital banking, blockchain and cryptocurrency mining is crucial for Sri Lanka to keep up with its regional neighbors while expanding
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Sri Lanka’s leading online retailer, Kapruka, has unveiled plans to introduce support for cryptocurrency payments. The news comes as the South Asian country intensifies efforts to adopt legislation tailored to regulate its blockchain space and attract investments from the crypto industry. Kapruka to Launch Cryptocurrency Payments Within Weeks Kapruka (Kapruka.com), a
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In preparation to regulate its fintech space, the government of Sri Lanka has established a special committee tasked to formulate the country’s policy on digital banking and crypto-related activities. The committee comprises professionals from the public and private sectors. New Committee to Propose Rules for Blockchain Industry in Sri Lanka Sri
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Sri Lanka joins the global crypto adoption drive after setting up a committee for exploring and implementing blockchain and crypto mining technologies.A letter shared on Oct. 8 by Sri Lanka’s Director General of Government Information, Mohan Samaranayake, shows that the authorities have approved a recent proposal that aims to attract
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