Sri Lanka Opening the door for Cryptocurrency

Sri Lanka Opening the door for Cryptocurrency : The Government has identified the need to develop an integrated system in Sri Lanka to facilitate the creation of a digital business ecosystem, including digital banking, blockchain technology and the provision of cryptocurrency mining and other essential services.

Many countries in the world have already begun to develop these sectors and urgent attention should be paid to take necessary steps to work with them on a competitive basis and a proposal made in Parliament.

Namal Rajapaksa about Cryptocurrency


Accordingly, the Board of Investment Act No. 4 of 1978 and related amendments were made to appoint a committee consisting of skilled professionals in the public and private sectors to report to the Cabinet on the Acts, Rules and Regulations required to attract investments to companies operating in these sectors.

Subject to the provisions, the Board of Investment has been approved to allow cryptocurrency mining companies to take the necessary steps to approve investment in Sri Lanka.

Source: Ada Derana Biz

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