cryptoknowmics.com
On Friday, October 8, 2021, the Department of Government Information of Sri Lanka issued a press release outlining a new project that will see a government-led attempt to build a nationalized, "integrated system of digital banking, blockchain technology, and cryptocurrency mining."
Sri Lanka To Promote Crypto Mining and Blockchain Technology
The Department of Government Information (DGI) is part of the Ministry of Mass Media in Sri Lanka. It assists local and foreign media sources, providing "quick access to Government news and information."
Namal Rajapaksa, Sri Lanka's Minister of Project Coordinating and Monitoring, created and constituted a committee, which was later authorized by the Cabinet, to do this.
The group reports directly to the Cabinet and aims to "attract investments and investors in the fields of Digital Banking, Blockchain, and Blockchain-related businesses such as cryptocurrencies."
According to the press release, the Cabinet has decided the "necessity" of developing the aforementioned "integrated system," which is on par with its regional worldwide partners, in addition to enabling prospective trade development in "international markets.
The Blockchain Technology and Crypto Mining Committee
Sri Lanka's new committee is tasked with developing and proposing an "appropriate framework" for cryptocurrency mining and blockchain technology projects and legislation, drawing on findings from other nations' research.
The group will study Dubai, Malaysia, the Philippines, Singapore, and the EU, according to the news release.
The committee will also investigate rules and regulations about Anti-Money Laundering (AML), criminal activities, terrorism funding, and the 'Know Your Customer (KYC) processes.
The following people have been assigned to this committee:
Mr. Sujeewa Mudalige
- Chairman
- Managing Partner – PricewaterhouseCoopers Sri Lanka
Mr. Viraj Dayaratne
- President’s Counsel
- BA (Colombo), LLM (Wales)
Mr. Rajeeva Bandaranaike
- Chief Executive Officer, Colombo Stock Exchange
Mr. Dharmasri Kumarathunge
- Committee Member
- Director, Payments & Settlements – Central Bank of Sri Lanka
Mr. Jayantha Fernando
- Committee Member
- Director ICTA, General Counsel
Mr. Sandun Hapugoda
- Committee Member
- Director – Mastercard Sri Lanka & Maldives
Air Commodore (Retd) TGJ Amarasena
- Committee Member
- Chief Executive Officer – Sri Lanka CERT
Mr. Milinda Rajapaksha
- Convener to the Committee & Committee Member
- Additional Director General, Dept. Govt. Information