The Central Bank of Sri Lanka has published a warning notice about the risks associated with cryptocurrency as interest and trading volumes of bitcoin and other cryptocurrencies surge locally and globally.
Sri Lanka’s Central Bank Warns About Bitcoin
The Central Bank of Sri Lanka has published a notice regarding cryptocurrency. “Considering the recent inquiries on virtual currency usage in the international and domestic markets, the Central Bank of Sri Lanka (CBSL) wishes to inform the public of the risks associated with investing in virtual currencies,” the notice published Friday reads.
In describing what cryptocurrency is, the central bank explained that virtual currencies (VCs) “are also commonly referred to as cryptocurrencies,” noting that popular ones include bitcoin, ethereum, and litecoin. The Sri Lankan monetary authority cautioned:
There are no regulatory safeguards relating to the usage, investment or dealing in VCs in…