The Central Bank of Sri Lanka warns the public about the risk of crypto investments

The Central Bank of Sri Lanka warns the public about the risk of crypto investments

The Central Bank of Sri Lanka took advantage of the 2021 crypto bull market at an opportune time to warn the public of the risks associated with cryptocurrency investments.

In a public announcement released On Friday, the Central Bank of Sri Lanka reported three types of crypto activity: cryptocurrency mining, investing in first coin offerings, and trading on cryptocurrency exchanges. All of this, the CBSL warns, puts investors at considerable risk. As there are no regulatory safeguards for crypto activities in Sri Lanka, the institution has identified four main problem areas for retail investors entering the cryptocurrency.

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