Opposition parties urged the Government to investigate the digital currencies owned by members of the ruling National People’s Power (NPP).
These concerns were raised in a context where several members of the Government have, in their Assets and Liabilities Declarations, mentioned owning digital currencies, which has caused controversy.
Speaking in the Parliament, Samagi Jana Balawegaya Parliamentarian Dayasiri Jayasekara noted that according to data publicised by the Commission to Investigate Allegations of Bribery or Corruption, the Trade, Commerce, Food Security and Cooperative Development Minister Wasantha Samarasinghe owns 3,000 crypto-currency units while the Speaker of the Parliament Dr. Jagath Wickramaratne has United States Dollars Tether 1,850 in his Binance account.
Noting that crypto-currency transactions are prohibited by an order issued under the Foreign Exchange Act, No. 12 of 2017, he alleged: “The Central Bank of Sri Lanka (CBSL) points out that crypto-currencies don’t contribute to the country’s economy and can also cause a loss of foreign exchange, adversely affecting the national financial system.” He further noted that the CBSL has stated that such transactions are an offence under the money laundering laws as well.
Opining that members of the Government possessing digital currencies is therefore a social concern, he added that if laws have been broken by owning digital currencies, it should be investigated and legal action should be initiated. Revealing how those digital currencies came into the possession of the said Members of the Government is also one of Jayasekara’s demands.
Meanwhile, the Ilankai Tamil Arasu Kadchi Opposition Parliamentarian Shanakiyan Rasamanickam also backed Jayasekara's comments, adding that the Government should issue an official explanation regarding the matter.
However, CBSL Governor Dr. Nandalal Weerasinghe said that although Sri Lankans cannot use crypto-currency for transactions in the country, investing in crypto-currency or virtual currency has no legal impediment due to the non-existence of related laws or regulations.
He noted that new laws will be formulated to prevent crypto-currency virtual assistance service providers from being involved in money laundering activities, adding that they are hoping to enact new laws with the support of the Government next year (2026) which will allow virtual assistance service providers to register with the Financial Intelligence Unit (FIU) of Sri Lanka which will ensure that such entities share data with the CBSL and prevent them from using the platform for money laundering activities.