March 29, 2024

The Central Bank of Sri Lanka opposed the adoption of bitcoin

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The Central Bank of Sri Lanka opposed the adoption of bitcoin

The leadership of the Central Bank of Sri Lanka believes that the adoption of decentralized cryptocurrencies will worsen the economic situation in the country.

During his last visit toIn Sri Lanka, American billionaire Tim Draper put forward the idea of ​​​​recognizing Bitcoin as a currency in the status of a legal tender. Such an initiative will help fight corruption in a country falling into a state of hyperinflation, the businessman is sure: 

However the other day a key figureFinancial regulator of Sri Lanka, Chairman of the Central Bank Nandalal Weerasinghe said that the recognition of Bitcoin will only worsen the economic situation:

“We will not accept Bitcoin. 100% cryptocurrency acceptance will never be a reality for Sri Lanka.”

Nandalal Weerasinghe is confident that for the sake ofIndependence of the monetary system in Sri Lanka is critically important to preserve its own national currency. The authorities do not want to aggravate the crisis by accepting Bitcoin, the official emphasized.

Previously, Tim Draper advised the Sri Lankan authorities to better study the experience of El Salvador in recognizing Bitcoin.