The 4th Sub Committee meeting on Virtual Asset Service Providers (VASPs), aimed at establishing a formal, transparent, and internationally aligned regulatory framework for virtual assets in Sri Lanka, was successfully held on 25 May 2026 at the Central Bank of Sri Lanka.
The meeting was chaired by the Hon. Deputy Minister of Digital Economy, Eng. Eranga Weeraratne.
Discussions focused on the latest progress of the FATF Mutual Evaluation process, proposed amendments to the Financial Transactions Reporting Act, and the identification of the Securities and Exchange Commission of Sri Lanka (SEC) as the prospective prudential regulator for virtual assets. Attention was also given to formalizing this policy direction through a Cabinet Memorandum.
The meeting further deliberated on the preparation of a Cabinet Memorandum supported by a concept paper to establish a comprehensive and enabling legal and policy framework for virtual assets. The importance of forming expert groups, conducting broader stakeholder consultations, and developing a transparent, structured, and robust regulatory regime was also emphasized during the discussions.
The session was attended by Dr. Hans Wijayasuriya, Chief Advisor to the President on Digital Economy; Waruna Sri Dhanapala, Secretary to the Ministry of Digital Economy; Dr. Subhani Keerthiratne, Director of the Financial Intelligence Unit (FIU) of the Central Bank of Sri Lanka; and representatives from relevant government and regulatory institutions.