11 October 2021

Sri Lanka appoints expert committee on blockchain technology and cryptocurrency mining.

Keeping in line with the National Policy Framework - Vistas of Prosperity and Splendour - which highlights the importance and values of a technology-based society, Cabinet approved the proposal made by the Minister of Project Coordinating and Monitoring Namal Rajapaksa to appoint a committee to report to the Cabinet on the Acts, Rules and Regulations to attract investments and investors in the areas of Digital Banking, Blockchain & Blockchain related industries such as cryptocurrency.

The necessity of developing an integrated system of digital banking, blockchain and cryptocurrency mining technology has been identified to pace on par with the global partners in the region while expanding trade to the international markets.

This committee will be mandated to study the regulations and initiatives of other countries such as Dubai, Malaysia, Philippines, EU, and Singapore etc, and propose a suitable framework for Sri Lanka.

The committee will also study the laws and regulations of other countries in terms of anti- money laundering, terrorism financing, criminal activities, and the Know Your Customer processes.

The committee comprises the following experts in their field: Mr Sujeewa Mudalige (Chairman), Mr. Viraj Dayaratne, Mr. Rajeeva Bandaranaike, Mr. Dharmasri Kumarathunge, Mr.Jayantha Fernando, Mr. Sandun Hapugoda, Air Commodore (Retd) TGJ Amarasena and Mr. Milinda Rajapaksha.

Sources: www.adaderana.lk

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