The CBSL communicated this proposal through a formal letter to the Ministry of Finance, highlighting the necessity for structured oversight in the rapidly evolving digital asset space. Finance Ministry sources have confirmed that the government has agreed to move forward with the initiative.
While cryptocurrency promoters continue to highlight the convenience and potential profitability of digital assets, the CBSL has raised concerns over their associated financial, operational, legal, and security risks. The Central Bank also cited consumer protection issues as a key area requiring attention.
The CBSL further pointed out that the recent collapses of global cryptocurrency institutions and the sharp decline in the value of certain cryptocurrencies underscore the inherent instability and risks of these digital assets.
The proposed committee is expected to formulate policies that balance innovation in the cryptocurrency sector with robust safeguards to protect investors and maintain financial stability.
