In a significant step toward establishing a regulatory framework for virtual assets in Sri Lanka, the Ministry of Digital Economy and the Securities and Exchange Commission of Sri Lanka (SEC) jointly conducted a special awareness session on digital assets on Sunday under the theme ‘Let’s Join Together for a Safer Digital Future’.
Held under the patronage of Deputy Minister of Digital Economy Eng. Eranga Weeraratne, the programme brought together policymakers, regulators and financial sector stakeholders to discuss opportunities and challenges associated with the rapidly evolving virtual asset ecosystem. The session focused on three key areas: the current state of Sri Lanka’s virtual asset market, international regulatory best practices and risk management and compliance measures. Industry experts Nisal Chandrasekara and Dinindu Thewarathanthri delivered detailed presentations covering risks associated with peer-to-peer (P2P) transactions, offshore trading platforms and the country’s largely unregulated digital asset environment.
Participants were also briefed on regulatory approaches adopted by regional financial hubs such as Singapore, Hong Kong, Thailand and Malaysia, with discussions centred on how similar frameworks could be adapted to suit Sri Lanka’s economic and regulatory landscape.
The programme further highlighted the importance of transaction monitoring, Know Your Customer (KYC) procedures, Anti-Money Laundering (AML) controls and blockchain-based transaction traceability in ensuring a secure digital financial ecosystem.
Attendees were introduced to the fundamentals of virtual assets, including how they are created, traded, stored and used across various sectors. The discussion covered applications such as exchange-traded funds (ETFs), self-custody holdings, cross-border payments and remittances, as well as capital-raising opportunities for startups through tokenisation and digital asset issuance. The event concluded with a 45-minute interactive discussion on investor protection, corporate responsibility and the development of a regulatory roadmap for virtual assets in Sri Lanka.
Among those present were Senior Advisor to the President Dr. Hans Wijesuriya, Secretary to the Ministry of Digital Economy Waruna Sri Dhanapala, SEC Chairman Senior Professor Harindra Dissabandara, Director of the Financial Intelligence Unit (FIU) Dr. Subhani Keerthirathna and representatives from the Colombo Stock Exchange, Central Bank of Sri Lanka and the Ministry of Digital Economy.
The initiative reflects growing efforts by Sri Lankan authorities to balance innovation with investor protection as digital assets gain prominence in global financial markets.
Source : Daily News