VIRTUAL assets such as cryptocurrencies, Non-Fungible Tokens (NFTs), utility tokens, stable coins and security tokens have no place in Fiji’s economy according to section22(2) of the Reserve Bank of Fiji Act 1983, a recent amendment that came into force on August 30, 2025.
The amendment forbids Fijians from dealing in virtual assets, with anyone found doing so liable, on conviction, to a fine of up to $1m or imprisonment of up to 14 years.
This was announced by the Reserve Bank of Fiji early this month.
In support of the move, the National Anti-Money Laundering Council (NAMLC) cited what it said were “serious risks associated with cryptocurrency and virtual assets, particularly in relation to money laundering, terrorist financing and proliferation financing”.
“Virtual assets, while innovative, present significant challenges to national security and financial integrity,” NAMLC said in its statement.
“Their decentralised and anonymous nature makes them highly susceptible to misuse by criminal networks and hostile actors.”
While acknowledging the importance of regulation enforcement, NAMLC chair and permanent secretary for Justice Selina Kuruleca said the Council’s priority remains the protection of Fiji’s financial system and the safety of its people, while promoting a secure and transparent environment that supports legitimate investment and economic growth.
The ban however does not extend to “digital representation of fiat, securities and other financial assets that fall under the purview of the RBF Act and the Companies Act 2015,” according to RBF.
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Note: This article was first published under the headline: Crypto crime in Page 22 of the print version of The Fiji Times dated Saturday, September 27, 2025
