The Central Bank of Sri Lanka (CBSL) has recommended the establishment of a high-level committee to the government, aimed at shaping policy decisions around the scientific and regulated use of cryptocurrencies.
According to Finance Ministry sources, the government has agreed to move forward with the proposal, following a letter from the CBSL urging the creation of a structured mechanism to oversee the rapidly evolving digital asset space.
While acknowledging the growing interest in cryptocurrencies due to their ease of use and profit potential, the Central Bank reiterated its strong caution against unregulated adoption.
It warned of serious financial, legal, operational, and security risks, as well as significant concerns regarding consumer protection.
The CBSL also highlighted the recent collapse of several global crypto institutions and the volatility in digital currency markets as reasons to approach the sector with care.
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