BITCOIN

The Indian government has responded to parliamentary questions about the legalization of cryptocurrency and the steps it has taken to prevent crypto-related fraud. “Crypto assets are currently unregulated in India. Frauds relating to crypto are dealt with under extant laws against fraud and cybercrime,” the Minister of State for the Ministry of Finance told parliament. Indian Ministry of Finance on Crypto Legalization The Indian government answered two sets of crypto-related questions in Lok Sabha, the lower house of India’s parliament, on Monday. The first set asks the Minister of Finance “whether the government is planning to legalize cryptocurrency in the country” and what “impact cryptocurrency will have on the common people and especially youth.” Shri Pankaj Chaudhary, Minister of State in the Ministry of Finance, reiterated his previous reply to parliament. “Crypto assets are currently unregulated in India. Crypto assets are by definition borderless and require international

Sri Lanka’s central bank has issued a warning about “the significant risks associated with using and investing in cryptocurrency.” The central bank reminded the public that “cryptocurrencies are unregulated investment instruments which are not recognized as an asset class in Sri Lanka.” Sri Lanka’s Crypto Warning The Central Bank of Sri Lanka (CBSL) issued a notice last week, warning the public of “the significant risks associated with using and investing in cryptocurrency.” The Sri Lankan monetary authority explained that it recently received complaints showing that “members of the public have incurred heavy losses on their crypto investments and in certain instances have also been subject to financial scams conducted through crypto-related schemes.” Referencing its previous warnings from 2018 to 2022 about financial, operational, legal, and security risks related to cryptocurrency, the central bank stated, “These risks and concerns have already materialized with the recent failu