Central Bank bans Cryptocurrencies

Sri Lanka Association of Information Technology had issued a statement on February 2, 2021 under the headline of“Pyramid Business in Sri Lanka in the Name of Crypto Money ..! and the Central Bank of Sri Lanka (CBSL) has responded to it on April 9.

Following is the media statement issued by Information Technology Association Sri Lanka of Sri Lanka;
In a press release issued by the Information Technology Association of Sri Lanka, we note that the Central Bank of Sri Lanka has a role to play in the use of cryptocurrencies in Sri Lanka, the regulation of cryptocurrencies and the raising of public awareness on cryptocurrencies. The bank has taken steps to make the public aware of the use of “crypto currency” through a press release.

The Central Bank of Sri Lanka has not licensed or authorized any institution or company to take action on virtual currency or cryptocurrencies, including undeclared electronic money, and any institution may be required to generate crypto money through computers or exchange crypto currency on the Internet(Virtual Currency Exchanges).

Hence, as the IT Association of Sri Lanka, we urge the public to be careful when investing in cryptocurrency based pyramid schemes.

Rajiv Yasiru Kuruwita’s Mathew Chairman Information Technology Association of Sri Lanka

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