Port City Comm. approved operation of two cryptocurrency exchanges – COPF informed

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The Committee of Public Finance (COPF) has approved the orders made under the Colombo Port City Economic Commission Act No. 11 of 2021. The decision was made following a lengthy discussion held on 24 October regarding the 10 business companies active in the Colombo Port City and attention was paid to the problematic situations regarding the signing of contracts by these companies. It was disclosed that these companies had entered into contracts prior to, during and after the preparation of the Port City, following which the COPF highlighted that the relevant agreements had not been made according to one system with any legal basis. As a result, it was recommended that the opinion of the Attorney General be sought within four weeks and that the Committee be informed about it. COPF Chairman subsequently pointed out that it is important to check the constructions carried out by these companies in this area. Moreover, it was also revealed that the Port City Commission had given permission to run two cryptocurrency exchanges. Thus, COPF recommended that the matter be inquired, and that the stance of the Central Bank of Sri Lanka (CBSL) on the matter also be obtained. State Minister (Dr.) Suren Raghavan, Members of Parliament Chandima Weerakkody, Nimal Lanza, Patali Champika Ranawaka, Duminda Dissanayake, U. K. Sumith Udukumbura were present at the Committee meeting held.

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