MONETABRIEF – Authorities are planning to designate the Securities Exchange Commission of Sri Lanka as the regulator for virtual assets, and virtual assets providers in the Indian Ocean island, Deputy Finance Minister Anil Jayantha Fernando said.
The Securities and Exchange Commission of Sri Lanka Act and other required laws will be changed.
The cabinet has approved setting up ministerial level sub-committee to oversee the development of a prudential regulatory framework for virtual assets and virtual asset providers, Fernando told parliament on July 09.
Sri Lanka's Financial Intelligence Unit will also identify virtual asset providers this year, to comply with Financial Action Task Force Recommendations
Sri Lanka is changing anti-money laundering and financial reporting laws to take into account the crypto currencies.
Sri Lanka has so not approved any virtual assets and the banking system cannot be used to transact virtual assets, but any crypto profits have to be declared to tax purposes, Fernando said. (Colombo/July11/2026)