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Special attention on cryptocurrency promoters!

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The Financial Intelligence Unit of the Central Bank of Sri Lanka is paying special attention to people who promote cryptocurrency as a profitable investment method and people who exchange foreign currency through informal methods such as Undiyal and Hawala, it was reported.

According to Order No. 03 of 2021 issued under the Foreign Exchange Act No. 12 of 2017, Electronic Fund Transfer Cards such as Debit Cards and Credit Cards are not allowed to be used for payments related to cryptocurrency transactions. However, it was reported that cryptocurrency promoters have disregarded this order.

The relevant orders have been issued since cryptocurrency operates through informal means, and that it does not contribute to the national economy and it can also cause the country to lose a substantial amount of foreign currency.

The Central Bank of Sri Lanka through press releases issued in 2018, 2021 and 2022 has already emphasized the significant financial, operational, legal and security risks as well as consumer protection issues that users may face when using cryptocurrencies.

For those who do not have a crypto mining machine, it is mandatory to use electronic fund transfer cards such as debit cards or credit cards to receive crypto money.

An average crypto mining machine is said to cost between US$600 and US$20,000.

Meanwhile, ‘Sri Lanka Mirror’ paid attention to several people who promote cryptocurrency through the internet.

Some posts that promote cryptocurrencies on Facebook are shown below:

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CID probing into ex-President Ranil’s overseas trips

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The Criminal Investigation Department (CID) informed the Colombo Fort Magistrate’s Court today (June 24) that it has launched an investigation into the overseas trips made by former President Ranil Wickremesinghe during his tenure as president.

The CID reported the facts to the court and stated that the investigation is being conducted under the Public Property Act.

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Nelumwewa hot springs to be boosted as tourist destination

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As part of the “Clean Sri Lanka” initiative, a development project has been proposed to enhance the area surrounding the Nelumwewa hot springs in Welikanda, Polonnaruwa, with the aim of promoting it as a tourist attraction.

A discussion regarding the proposed development was held this morning (June 24) at the site, followed by a field inspection.

Until now, the hot springs area has not been adequately developed, leading to a diminished interest from both local and international tourists.

During the discussion, attention was drawn to the importance of developing the Nelumwewa hot springs, the site’s tourism and scientific potential and its current condition.

Proposals currently being evaluated involve enhancing forest cover in the surrounding area, beautifying the island adjacent to the hot springs and building a bridge from the mainland to the island to facilitate better access for visitors.

Among those present were Deputy Minister of Housing T.B. Sarath, Chairman of the Welikanda Pradeshiya Sabha, D.W. Wasantha, retired hydrologist Prof. Dharma Gunawardena of the University of Peradeniya and officials from the Clean Sri Lanka Secretariat, the Mahaweli Authority, the Sri Lanka Tourism Development Authority, the Welikanda Divisional Secretariat and several other institutions.

(President’s Media Division)

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22 Oluwil university students suspended over ragging

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A group of 22 students from Oluwil University have been suspended for allegedly ragging first-year students, Vice Chancellor Prof. S.M. Junaideen said.

The university’s Registrar, M.I. Naufer, stated that a special committee made up of university professors has been appointed to carry out a formal investigation into the incident.

According to preliminary reports, a group of second-year students from the Engineering Faculty were involved in ragging several first-year students. University authorities said strict disciplinary action would be taken based on the findings of the investigation.

The incident has raised fresh concerns about ragging in universities, which remains a serious issue despite longstanding efforts to eliminate the practice from Sri Lanka’s higher education institutions.

(dailymirror.lk)

(This story, originally published by dailymirror.lk has not been edited by SLM staff)

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