Ravi K questions Government on cryptocurrency oversight

17 March 2026 04:35 pm Views - {{hitsCtrl.values.hits}} 4 Bookmark

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Colombo, March 17 (Daily Mirror) - MP Ravi Karunanayake today pressed the Finance Minister in Parliament over Sri Lanka’s regulatory stance and oversight failures in cryptocurrency and digital asset transactions.

Karunanayake raised concerns following the recent Rs. 290 million cryptocurrency fraud under investigation, highlighting the Colombo Chief Magistrate’s observation that funds are leaving the country through loopholes in the current framework.

He recalled raising the issue on 23 January 2025, when the Central Bank Governor described cryptocurrency transactions as “neither legal nor illegal.”

The MP sought clarity on the government’s present policy on digital asset trading, measures taken since early 2025 to monitor cryptocurrency transactions, and the impact of the absent legal framework in enabling capital flight via platforms such as Binance.

He also questioned the taxation of crypto profits, mechanisms to track transaction volumes in 2023, 2024, and 2025, and coordination among the Central Bank, Financial Intelligence Unit, and Criminal Investigation Department to prevent fraud and money laundering.

Karunanayake further urged the government to explain how it plans to catch up with international peers like India, Singapore, Thailand, and the UAE in regulating digital assets.

Comments - 4

Saragi Tuesday, 17 March 2026 07:34 PM

Look close to home for the "whale" for crypto currency.. No point crying after the horse left the stable. Hint.. There is a crown prince who knows all about it.

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Best minister Tuesday, 17 March 2026 07:53 PM

You have no moral right to question any one on money matter's. Your hands are stained.

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Rizwan Tuesday, 17 March 2026 07:57 PM

Dear sir many BPO”s in Srilanka doing scams using Binance as giving promises on high returns investment . Fake trading website and platforms. Please check on that . Many BPO”s has suddenly raise on doing with scams.

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Ganja Banda Wednesday, 18 March 2026 12:29 AM

What about the 165 million rupees you were walking around with that was in paper bags when you were in government ??????????????????

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