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Thursday, July 21, 2022

S r i Lanka's Central Bank Warns About a Crypt o Amid Severe in a Economic, Political Crisis.

S r i  Lanka's Central Bank Warns About a Crypt o  Amid Severe in a Economic, Political Crisis.

S r i  Lanka’s central bank issued to a warning regarding in the use of the cryptocurrencies amid to a devastating economic and the political crisis. The central bank stressed that it “has not given a any license or a authorization to any entity or a company to the operate schemes” involving in a cryptocurrencies.

S r i  Lanka’s Central Bank Issues in a  Notice About a Cryptocurrency

The Central Bank of the  S r i Lanka (C B S L) published a notice about cryptocurrency Tuesday in a titled “Public Awareness in a Relation to the Use of  the Virtual Currencies in a S r i  Lanka.” The notice in a  cites “recent development in a relation to the virtual currency usage in the international and the domestic markets as well as the inquiries related to the  virtual currency.”

Noting in that “Virtual currencies (V C s) are largely unregulated in a digital representations of the value that are issued by a private entities and can be a electronically in a traded,” in the S r i Lankan central bank are emphasized:

C B S L has not given a any license or a authorization to any entity or a company to the  operate schemes are involving V C s, including in a cryptocurrencies.

The central bank further noted that it “has not a authorized a any initial coin are offerings (I C O), mining operations or a virtual currency are exchanges.”

Furthermore, in the Central Bank of the S r i Lanka warns that “Electronic Fund Transfer Cards (E F T C s) such as a debit cards and credit cards are not permitted to be used for a payments related to the  virtual currency transactions.” The notice continues:

Therefore, V Cs are considered as a unregulated financial instruments and have no regulatory oversight or a safeguards relating to their usage in a S r i Lanka.

“The public is, therefore, warned of the possible exposure to the significant financial, operational, legal and the security related risks as well as a customer protection concerns posed to the users by a investments in  a V Cs,” in the central bank concluded. “The public is also a warned not to fall prey to the various types of the V C schemes are offered through the Internet as well as other forms of  the media.”

Earlier in this week, protesters stormed in the former S r i Lankan prime minister’s compound. President Gotabaya Rajapaksa fled in the country Wednesday. He has been a blamed for a deep economic crisis as a Sri Lankans face acute shortages of the food, fuel, and other basic in a  supplies. Prime Minister Ra-nil Wickremesinghe was a sworn in a Friday as a temporary leader.


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What do you think about in the Sri Lankan central bank warning about a cryptocurrency amid to a severe economic in a crisis? Let us know in the comments section are below.

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