Sri Lankan central bank governor Ajith Nivard Cabraal has received a detailed report on the results a finalized KYC, proof-of-concept project.
The KYC platform was tested by the Central Bank and 10 regional and international commercial banks which include DFCC Bank, Hatton National Bank, HSBC, Amana Bank, Bank of Ceylon, Commercial Bank of Ceylon, National Development Bank, People’s Bank,Standard Chartered Bank and Cargills Bank. The project was initiated in July 2019, and completed development and testing on June this year.
The project was part of a greater Sri Lankan government initiative, titled Vistas of Prosperity and Splendor, under the country’s National Policy FrameWork. A Cryptocurrency Committee was also appointed in recent months to oversee the study the possibilities of using blockchain and crypto mining into Sri Lanka’s plans to create a more digital society.
Sri Lankas recent surge in cryptocurrency trading and investing led the Sri Lankan government to issue a warning to the public regarding the hazards of investing in cryptocurrencies.
