Sri Lanka, Oct. 12 -- Sri Lanka has stepped up efforts to regulate virtual assets and virtual asset service providers (VASPs), with the Government pursuing legal reforms to strengthen financial oversight and combat money laundering.

The Ministry of Digital Economy outlined progress on the proposed 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 the country...