The Cabinet has approved the appointment of a committee to present policy on Digitization, Blockchain Technology, Cryptocurrency Mining and providing necessary services to create a smart Sri Lanka.
The Government said the necessity of developing an integrated system that combines digital banking, blockchain technology, cryptocurrency mining, and other essential services, has been identified to facilitate the creation of a digital business environment.
Many countries in South Asia have already begun to evaluate through this sector and develop the said sector, and prior attention needs to be given to taking the necessary steps enabling to deal with these countries on a competitive basis, it pointed out.
Accordingly, the Cabinet of Ministers has approved the proposal submitted by the Minister of Project Coordinating and Monitoring to appoint a committee consisting of skilled professionals in the public and private sectors for this purpose.
The Committee will report to the Cabinet on the Acts, Rules and Regulations required to attract investments of the companies that are being operated in these sectors.
The Committee will also approve cryptocurrency mining companies to invest in Sri Lanka and for the Board of Investment to take the necessary steps under the provisions of the Board of Investment Act No. 4 of 1978 and the related amendments.
