Sri Lanka Appoints Committee to Draft Digital Currency Policy, Seeks Crypto I...
In preparation to regulate its fintech space, the government of Sri Lanka has established a special committee tasked to formulate the country’s policy on digital banking and crypto-related activities. The committee comprises professionals from the public and private sectors. New Committee to Propose Rules for Blockchain Industry in Sri Lanka Sri Lankan authorities have unveiled the composition of а newly established committee of experts gathered to formulate the nation’s policy in three key areas related to cryptocurrencies, the local Daily Mirror reported on Saturday.....
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The committee plans to propose a suitable framework for Sri Lanka after studying the regulations followed by international markets. Sri Lanka joins the global crypto adoption drive after setting up a committee for exploring and implementing blockchain and crypto mining technologies.A letter shared on Oct. 8 by Sri Lanka’s Director General of Government Information, Mohan Samaranayake, shows that the authorities have approved a recent proposal that aims to attract investments in the country’s blockchain and cryptocurrency initiatives. According to Samaranayake, the Sri Lankan authorities....
Sri Lanka has issued a notice regarding the stance of cryptocurrency warning citizens against it. Amidst an economic turmoil and a political chaos, the Central Bank of Sri Lanka (CBSL) mentioned that crypto remains “largely unregulated”. This notice was recently issued in the wake of “recent developments in relation to virtual currency usage”. Sri Lanka’s […]
Changes meant to postpone the introduction of a tax on virtual assets such as cryptocurrencies in South Korea have been approved by an important parliamentary committee. The draft legislation seeks to delay Seoul’s plan to impose a 20-percent levy on gains from crypto transactions.
Ahead of Election, Major Parties Support Tax Break for Crypto Investors in South Korea
South Korean parliament is taking steps to suspend a planned tax on profits from digital asset investments for another year. The move has been supported by the ruling Democratic Party, despite disagreements....
The Central Bank of Sri Lanka, or CBSL, has cautioned the public against buying cryptocurrencies due to a lack of regulatory monitoring at a time of economic and political upheaval. Sri Lanka Maintain “Crypto Is Illegal” Stance A public awareness notice was released by Sri Lanka’s central bank on July 12 in response to “recent […]
A new European Parliament draft report on digital currencies calls for the creation of a task force specifically devoted to the technology. The report, penned by European Parliament member (MEP) Jakob von Weizsäcker of the Committee on Economic and Monetary Affairs, seeks the establishment of a task force, with its own budget and dedicated staff, that would study digital currencies and provide policy advice to the European Union and member-states. Further, the report calls for tightening regulation of both exchanges and wallet service providers – something the European Commission, the....