🏦 Considering the recent public inquiries and the developments observed relating to #Cryptocurrencies, which are also commonly referred to as“crypto”, the Central Bank of Sri Lanka (CBSL) wishes to reiterate to the public the significant risks associated with using and investing in cryptocurrency.
Cryptocurrency is a type of virtual currency that is generated by private entities and not by a monetary authority of a country. The term 'cryptocurrency' refers to a digital representation of value that is implemented using cryptography and Distributed #Ledger Technology (DLT) or similar #Technology. It is observed that #CryptoTrading is widely promoted by certain entities as a profitable #Investment.
However, recent complaints received by #CBSL have shown that members of the public have incurred heavy losses on their #Crypto investments. In certain instances, they have also been subject to #Financial scams conducted through crypto-related schemes.
Cryptocurrency is a type of virtual currency that is generated by private entities and not by a monetary authority of a country. The term 'cryptocurrency' refers to a digital representation of value that is implemented using cryptography and Distributed #Ledger Technology (DLT) or similar #Technology. It is observed that #CryptoTrading is widely promoted by certain entities as a profitable #Investment.
However, recent complaints received by #CBSL have shown that members of the public have incurred heavy losses on their #Crypto investments. In certain instances, they have also been subject to #Financial scams conducted through crypto-related schemes.