Eritrea vs Sri Lanka
Crypto regulation comparison
Eritrea
Sri Lanka
Restricted
Restricted
Eritrea has a highly restrictive financial environment. The government tightly controls the economy and financial system. No crypto activities are formally permitted.
Sri Lanka has no specific cryptocurrency legislation. The CBSL has issued multiple warnings (2018, 2021, 2022, 2023) about crypto risks and has not authorized any entity to operate crypto exchanges, mining, or advisory services. Use of debit/credit cards for crypto is prohibited under the Foreign Exchange Act. The SEC has been discussed as a potential future regulator.
Tax Type
None
Tax Type
Unclear
Tax Rate
N/A
Tax Rate
N/A
Exchanges
No
Exchanges
No
Mining
No
Mining
Yes
Regulator
Bank of Eritrea
Regulator
Central Bank of Sri Lanka, Securities and Exchange Commission
Stablecoin Rules
No stablecoin regulation
Stablecoin Rules
No stablecoin regulation
Key Points
- Highly restrictive financial environment
- Government tightly controls the economy
- No specific cryptocurrency legislation
- Very limited internet access
- No formal crypto services or exchanges
Key Points
- CBSL has issued repeated warnings about crypto risks (2018, 2021, 2022, 2023)
- No entity authorized to operate crypto exchanges, mining, or advisory services
- Use of debit/credit cards for crypto prohibited under Foreign Exchange Act
- CBSL requested criminal proceedings against crypto pyramid schemes
- SEC discussed as potential future regulatory authority for digital assets