Sri Lanka Government Forms Panel to Study Digital Banking, Blockchain for Attracting Investment

Sri Lanka Government Forms Panel to Study Digital Banking, Blockchain for Attracting Investment
Sri Lanka’s Cabinet approved the formation of committee that will study the rules and regulations governing digital banking, blockchain, and crypto mining in other nations, as well as methods to prevent money laundering, terrorism financing and other criminal activities related to those technologies. The body will also study Know-Your-Customer processes.The five-member committee will study the regulatory frameworks and approaches to crypto-related industries in countries such as Dubai, Malaysia, the Philippines, Singapore, and the E.U.The committee was proposed by Namal Rajapaksa, a cabinet member whose roles include Minister of Development Coordination and Monitoring; Minister for Sports and Youth Portfolio; and State…