Sri Lanka’s central bank has issued a warning about “the significant risks associated with using and investing in cryptocurrency.” The central bank reminded the public that “cryptocurrencies are unregulated investment instruments which are not recognized as an asset class in Sri Lanka.” Sri Lanka’s Crypto Warning The Central Bank of Sri Lanka (CBSL) issued a…
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The government of India has announced that it will facilitate the settlement of international transactions using its national currency, the rupee. As part of its foreign trading policy framework implemented on April 1, the country introduced this measure to facilitate payments for countries experiencing a U.S. dollar crush. India to Offer Rupee-Based Settlement Options for…
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Investment management firm Ark Invest has offered three bitcoin price predictions in a new report, including a bull scenario where bitcoin could reach $1.48 million per coin. In other news, a 7zip file possibly linked to activist Julian Assange was reportedly discovered in the Bitcoin blockchain, and billionaire investor Tim Draper has encouraged the government…
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Billionaire investor and venture capitalist Tim Draper has reportedly attempted to convince the Sri Lankan government to adopt bitcoin. However, the governor of the Central Bank of Sri Lanka rejected his recommendation, emphasizing: “Adoption of 100% bitcoin won’t be a Sri Lanka reality ever.” Tim Draper Suggests Sri Lanka Adopts Bitcoin Billionaire investor and venture…
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Sri Lanka’s central bank issued a warning regarding the use of cryptocurrencies amid a devastating economic and political crisis. The central bank stressed that it “has not given any license or authorization to any entity or company to operate schemes” involving cryptocurrencies. Sri Lanka’s Central Bank Issues Notice About Cryptocurrency The Central Bank of Sri…
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Thousands of Sri Lankans took to the streets of Colombo in protest of the government’s response to the economic situation in the country. Amid economic and political turmoil, the Central Bank of Sri Lanka, or CBSL, has warned the public against crypto purchases due to the lack of regulatory oversight. In a Tuesday notice, the…
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The government in crisis-stricken Sri Lanka has said it will print more money and cut spending on infrastructure as part of an attempt to pacify the restive population. The government, however, concedes that printing more money will likely see the inflation rate rise to 40%.
Printing More Money as the Solution
After defaulting…
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Sri Lanka’s leading online retailer, Kapruka, has unveiled plans to introduce support for cryptocurrency payments. The news comes as the South Asian country intensifies efforts to adopt legislation tailored to regulate its blockchain space and attract investments from the crypto industry. Kapruka to Launch Cryptocurrency Payments Within Weeks Kapruka (Kapruka.com), a major e-commerce platform in…
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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…
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Charity organization Oxfam announced the success of its blockchain-based delivery system of microinsurance to farmers in Sri Lanka. The United Kingdom-based charity organization Oxfam International announced the success of its blockchain-based delivery system of microinsurance to paddy field farmers in Sri Lanka. In a Nov. 4 press release, Etherisc announced that Oxfam’s blockchain-based insurance system…
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