Daily Mirror (Sri Lanka)

Kapruka to start accepting crypto payments within next few weeks


Sri Lanka’s leading e-commerce platform Kapruka.com (Private) Limited announced plans to commence accepting payments via cryptocurr­encies within the next couple of weeks.

“…@kapruka plans to accept crypto payments within the next couple of weeks,”

Kapruka Founder and Chairman Dulith Herath tweeted yesterday.

MTB.LK last month became the first Sri Lankan company to start accepting crypto payments for their services across the globe. Kapruka is now likely to become the second local company to crypto payments.

Youth and Sports, Developmen­t Co-ordination and Monitoring Minister and Digital Technology and Enterprise Developmen­t State Minister Namal Rajapakse recently revealed intentions to set up a potential Cryptocurr­ency Exchange at China-backed Colombo Port City while China moved to ban all cryptocurr­ency transactio­ns.

Recently, he also secured the Cabinet approval to appoint a committee comprising of skilled profession­als in the public and private sectors to draft a report on the acts, rules and regulation­s required to attract investment­s from companies operating in these sectors and to allow the Board of Investment (BOI) to take the necessary steps under the provisions of BOI Act No. 4 of 1978, to facilitate such investment­s.

While the cryptocurr­ency industry remains unregulate­d in Sri Lanka, the Central Bank maintains an cautious approach on cryptocurr­ency trading. It recently cautioned the public on the risks involved in investing and trading in virtual currencies with peer-to-peer (P2p)-based cryptocurr­ency trading.

Further, India in March this year announced its plans to slap a ban on cryptocurr­ency while China has already declared all cryptocurr­ency transactio­ns illegal. However, a handful of countries, including Ukraine, most recently has moved to legalise cryptocurr­encies.

 ?? ?? Dulith Herath
Dulith Herath

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