Sri Lankans Flock To Crypto As Economic Crisis Deepen

Sri Lankans Flock to virtual currency as the financial crisis deepen.

As the economic trouble worsened, Sri Lankans started investing in virtual currencies to safeguard themselves.

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Central Bank Of Sri Lanka issued a warning against investing in cryptocurrencies.

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The Central Bank of Sri Lanka has warned the people about the possible disadvantages of these investments.

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CBSL has stated that digital currencies are unregulated and issued by private bodies.

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The regulatory body warned about possible exposure to significant financial, operational, legal, and security-related risks as well as customer protection concerns.

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Hence they warned the public not to fall for such investment schemes offered through the Internet as well as other forms of media.

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The country has declared a Financial emergency as President Gotabaya Rajapaksa fled the country.

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