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Sri Lanka’s central bank warns the public against the risks of investing in cryptocurrencies According to Cointelegraph


Sri Lanka’s central bank warns the public against the risks of investing in cryptocurrencies

Sri Lanka’s central bank has viewed the 2021 crypto bull market as the right time to warn the public of the risks associated with crypto investing.

In a public announcement published On Friday, the Central Bank of Sri Lanka flagged three types of crypto operations: mining cryptocurrency, investing in initial coin offerings and trading through crypto exchanges . All of this, CBSL warns, puts investors at considerable risk. Since there are no regulatory protections in place for crypto operations in Sri Lanka, the institution has identified four main areas of concern for retail investors participating in cryptocurrencies. death.