📈 Sri Lanka Steps Up Virtual Assets Regulation with High-Level Awareness Session

• Regulatory Alignment: The Digital Economy Ministry and the Securities and Exchange Commission (SEC) held a special session, "Let's Unite for a Safer Digital Future," to align Sri Lanka's regulatory framework with global digital finance trends. • Market Risks Identified: Experts highlighted significant risks in Sri Lanka's current virtual asset market, specifically regarding peer-to-peer (P2P) transactions, offshore platforms, and unregulated financial activities. • Global Benchmarking: Discussions examined international regulatory models from regional financial hubs like Singapore, Hong Kong, Thailand, and Malaysia to establish best practices for Sri Lanka. • Compliance & Risk Management: The session briefed stakeholders on critical compliance controls, including transaction monitoring, Know Your Customer (KYC) requirements, Anti-Money Laundering (AML) frameworks, and using blockchain technology for transaction tracing. • Future Roadmap: Key policymakers—including the Central Bank's Financial Intelligence Unit (FIU) and Colombo Stock Exchange (CSE)—focused on investor protection, corporate responsibility, and developing a regulatory roadmap for the national ICT/BPM and digital finance landscape.