The Central Bank of Sri Lanka said citizens could invest in virtual currencies but at their own risk since the assets are not unregulated in the country.
The Know-Your-Customer proof-of-concept project started in July 2019, while the development and testing of the experimental platform were completed on June 10, 2021.
Sri Lanka’s Cabinet approved the formation of a committee that will study digital assets, blockchain technology, digital banking and block reward mining.
Sri Lanka’s central bank is looking for tech firms that can develop a PoC shared KYC platform to be used in the banking industry.
France is keen on launching the first CBDC ahead of China, as giants such a KT Corporation, Microsoft and China Mobile launched blockchain projects.