Sri Lanka, Oct. 12 -- Sri Lanka has stepped up preparations to regulate virtual assets and virtual asset service providers (VASPs), with the Government advancing legal reforms aimed at strengthening financial oversight and combating money laundering.

The Ministry of Digital Economy outlined the progress of the regulatory framework at a meeting of the National Committee on Anti-Money Laundering (AML), Countering the Financing of Terrorism (CFT) and Countering the Financing of Proliferation (CPF), held at the Central Bank of Sri Lanka (CBSL).The meeting, chaired by CBSL Governor Dr. Nandalal Weerasinghe and Deputy Minister of Digital Economy Eranga Weeraratne, focused on preparations for Sri Lanka's third mutual evaluation, which assesses ...