The Central Bank of Sri Lanka has moved to bring clarity on the future of cryptocurrency in the country, recommending the government appoint a high-level policy committee to chart the way forward.
The Central Bank has already sent an official letter to the Ministry of Finance proposing the establishment of this special committee. Finance Ministry sources have confirmed that the government has shown agreement, signaling that Sri Lanka may finally be on the path toward developing a clear policy framework for digital assets.
The committee is expected to study global practices, assess risks, and make recommendations on how Sri Lanka will regulate or adopt cryptocurrency. The issue has gained urgency following revelations that several ministers, in their asset declarations, disclosed investments in crypto, fueling heated public debate.
At a recent press briefing, Central Bank Governor Dr. Nandalal Weerasinghe admitted that no specific law currently exists to govern cryptocurrency in Sri Lanka, leaving investors and regulators in a grey area. The proposed move marks the first concrete step toward building a national policy on digital assets, balancing innovation with regulation.
