The authorities of Fiji have announced a ban on the activities of virtual asset service providers (VASP) in order to protect the financial system and citizens from the risks of money laundering. According to the chair of the National Anti-Money Laundering Council, Selina Kuruleka, companies that exchange cryptocurrencies for fiat money, store digital assets, or conduct transactions with them are covered by the ban. Residents of the country are also prohibited from purchasing cryptocurrency with fiat. The decision is supported by the official ban from the Reserve Bank of Fiji dated August 30, 2025, which halts all operations related to cryptocurrencies. Offenders face fines of up to 1 million Fijian dollars or 14 years imprisonment.
Experts believe that this step reflects a conservative approach to regulation, typical of some island nations where the economy heavily relies on traditional finance. At the same time, it may deter innovations and investors seeking new opportunities. Critics label the decision as hasty, considering the global trend towards the integration of cryptocurrencies.
The situation in Fiji draws attention as a test of the balance between security and technological progress.
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