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 Bank of Sri Lanka (CBSL) published a notice about cryptocurrency Tuesday titled “Public Awareness in Relation to the Use of Virtual Currencies in Sri Lanka.” The notice cites “recent development in relation to virtual currency usage in the international and domestic markets as well as the inquiries related to virtual currency.”
Noting that “Virtual currencies (VCs) are largely unregulated digital representations of value that are issued by private entities and can be electronically traded,” the Sri Lankan central bank emphasized:
CBSL has not given any license or authorization to any entity or company to operate schemes involving VCs,...
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