Namal appoints Cryptocurrency committee

Minister of Project Coordinating and Monitoring Namal Rajapaksa has appointed a 8-member committee to report to the Cabinet on the Acts, Rules and Regulations to attract investments and investors in the areas of Digital Banking, Blockchain & Blockchain related industries such as cryptocurrency.

Cabinet approval was granted this week to appoint a committee.

This committee will be mandated to study the regulations and initiatives of other countries such as Dubai, Malaysia, Philippines, EU, and Singapore etc, and propose a suitable framework for Sri Lanka, a media release by the Department of Government Information states.

The committee will also study the laws and regulations of other countries in terms of anti-money laundering, terrorism financing, criminal activities, and the Know Your Customer processes, it adds.

According to the media release, the committee comprises the following experts in their field: Mr Sujeewa Mudalige (Chairman), Mr. Viraj Dayaratne, Mr. Rajeeva Bandaranaike, Mr. Dharmasri Kumarathunge, Mr.Jayantha Fernando, Mr. Sandun Hapugoda, Air Commodore (Retd) TGJ Amarasena and Mr. Milinda Rajapaksha.

However, speaking at a media briefing yesterday (07), Central Bank of Sri Lanka (CBSL) governor – Ajith Nivad Cabraal had stated that the CBSL is yet to take a decision on cryptocurrency.

Only in April 2021, the CBSL had warned the public of the risks of investing in virtual currencies in Sri Lanka.

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Committee proposing policy on BlockChain Technology, Digital Banking & Crypto Mining

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