Sri Lanka's Cabinet of Ministers has greenlit several major proposals including virtual asset regulation, infrastructure projects worth billions of rupees, and judicial reforms, while the stock market closed on an upward trajectory.

Sri Lanka's Colombo Stock Exchange concluded Tuesday trading with modest gains, as the benchmark All Share Price Index rose 0.20 percent to 21,229.14 points. The S&P SL20 index increased 0.21 percent to 5,961.40 points, with retail stocks leading market turnover at 1.04 billion rupees out of a total 2.02 billion rupees. Colombo Dockyard and ACL Cables were among the day's strongest performers, while Sampath Bank and Tokyo Cement Company recorded declines.

On the regulatory front, the Cabinet has designated the Securities and Exchange Commission as the official regulator for virtual assets and digital asset service providers, bringing cryptocurrency trading platforms under formal oversight. The move follows recommendations from anti-money laundering committees and aims to ensure compliance with international standards. According to Cabinet spokesman Nalinda Jayatissa, unregulated offshore platforms have historically allowed cryptocurrency traders to operate without basic compliance obligations or registration requirements.

The government has also approved approximately 15 billion rupees in contracts for the first phase of the Ruwanpura Expressway Project, connecting Kahathuduwa to Ingiriya with funding from local budgetary allocations. Additionally, the Cabinet greenlit establishment of a state-owned company to manage the nation's multimodal transport hubs, with two operational facilities already in place at Makumbura and Kadawatha, and two more under construction. The disposal of 195.89 million rupees worth of accumulated scrap metal from the state transport board was also approved, with six industrial bidders awarded contracts.

Meanwhile, the Cabinet has approved amendments to the Constitution and Judicature Act to increase the statutory retirement age for judges. Officials claim the measure will retain experienced judicial personnel, though critics suggest it aims to extend the sitting chief justice's tenure. The Bar Association of Sri Lanka and the Judicial Service Association have both expressed opposition, urging the government to address court vacancies and conduct wider consultation before altering constitutional provisions.