Sri Lanka has established a committee to develop regulation for blockchain and mining

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Sri Lanka’s Cabinet of Ministers has formed a committee to develop regulations governing blockchain technology, cryptocurrency mining and digital banking in the country.

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wrote Sri Lanka’s Minister of Youth and Sports Development, Namal Rajapaksa, tweeted. He is confident that thanks to a well-thought-out regulatory framework, the country will be able to become one of the leaders in the development of the digital economy. Rajapaksa believes that learning about blockchain and cryptography will open up many opportunities for young people, and in the future, young people will be able to contribute to the development of industries that use blockchain. The minister also believes that if Sri Lanka creates a favorable environment for the development of new technologies, foreign capital will come to the country, the number of new jobs will increase, and e-commerce will develop.

Rajapaksa added that in working out the regulatory rules, the government will consider the possibility of using renewable energy sources for the development of “green” mining. Note that back in the spring, the Central Bank of Sri Lanka warned investors against ill-considered investments in cryptocurrencies.

The Bank of Sri Lanka is less wary of blockchain. In July, the regulator selected three start-ups that began work on creating a platform for identifying customers in the banking and public sector.

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