Sri Lanka's Central Bank Warns Against Use of Cryptocurrency Amid Economic Crisis

Sri Lanka has warned its citizens against using cryptocurrency, which it said is "largely unregulated" amid an ongoing political chaos in the South Asian nation. From a report: The country's central bank, CBSL, said Tuesday it does not consider cryptocurrencies as legal tender in the country and reminded that it has not given license or other authorization to any entity to operate in the nation. [...] The warning comes at a time when the sovereign-debt crisis has crippled the local economy. The South Asian nation, which fell into default in May this year and is struggling to secure essential imports from other nations, reported that inflation had touched a year-on-year record of 54.6 percent in June.

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