The Financial Intelligence Unit (FIU) of the Central Bank has initiated a mandatory survey to gather information on individuals and entities involved in Virtual Asset Service Providing (VASP) activities.
The move comes ahead of the country’s third evaluation of its Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) framework.
Entities are classified as VASPs if they engage in activities such as exchanging virtual assets and fiat currencies, transferring virtual assets, safekeeping digital assets, or providing financial services related to virtual asset offerings.
The survey is part of a public consultation process to identify those currently offering these services as a business.
While virtual assets, including cryptocurrencies, are recognized as digital representations of value that can be digitally altered, traded or transferred and used patent or investment purposes, the Central Bank said.
It does not include digital representation fiat currencies issued by the Central Bank, it said
However, Sri Lanka’s foreign exchange regulations currently prohibit their use for payments. (Newswire)
