Crypto Regulation in Sri Lanka

Restricted

Tax Information

Capital Gains (Personal)
10% CGT on gains (general)
Capital Gains (Corporate)
30% CIT
VAT on Crypto
No
Staking Tax
Unclear
Airdrop Tax
Unclear
Mining Tax
--

Licensing & Registration

License Required
No
Regulator
CBSL (Central Bank of Sri Lanka)
Framework
CBSL has warned against crypto but not explicitly banned; no regulatory framework
License Types
--
Estimated Cost (USD)
N/A
Timeline
N/A months
Ease of Licensing
Very Complex

AML / KYC

KYC Required
Yes
Travel Rule
No
FATF Member
--
FATF Status
--
Suspicious Activity Reporting
--

Mining

Mining Legal
Yes
Status
Restricted
Electricity Cost ($/kWh)
$0.1
Renewable Energy
20%
Climate
Tropical
Infrastructure
Moderate
Tax on Mining Income
30% CIT

DeFi, Stablecoins & NFTs

DeFi: unregulatedStablecoins: unregulatedNFTs: unregulatedCBDC: research

Soken Services

Legal Opinion
Available | $5,000 - $20,000 | 14 days
Banking
Difficulty: Very Hard | Crypto-friendly banks: none listed
Min. Deposit
$10,000
Fiat Rails
SWIFT
Card Payments
Visa, Mastercard

Sources

Central Bank of Sri Lanka
medium

Frequently Asked Questions

Is crypto legal in Sri Lanka?
Cryptocurrency is currently classified as "Restricted" in Sri Lanka.
What is the crypto tax rate in Sri Lanka?
In Sri Lanka, the personal capital gains tax on crypto is 10% CGT on gains (general), and the corporate tax rate is 30% CIT.
Do I need a crypto license in Sri Lanka?
No, Sri Lanka does not currently require a specific crypto license, though other financial regulations may apply.
Is crypto mining legal in Sri Lanka?
Yes, crypto mining is legal in Sri Lanka. Electricity costs approximately $0.1/kWh. Mining income is taxed at: 30% CIT.
What are the AML/KYC requirements for crypto in Sri Lanka?
Yes, crypto businesses in Sri Lanka must comply with KYC (Know Your Customer) requirements.