The Reserve Bank of Fiji has warned that providing virtual asset services in Fiji is now legally prohibited following an amendment to the Reserve Bank of Fiji Act 1983 that took effect on 30 August 2025. The prohibition applies to any natural or legal person in or outside Fiji and covers carrying on, purporting to carry on, or holding out as carrying on the business of a virtual asset service provider (VASP) in Fiji. It also bans marketing, advertising, payment and settlement, technical support or other services related to a VASP business to Fiji residents. The amended law defines VASP activities to include exchanging virtual assets and fiat currencies, exchanging between virtual assets, transferring, safekeeping or administering virtual assets, and providing financial services related to an issuer’s offer and sale of a virtual asset. A “virtual asset” is defined as a digital representation of value used for payment or investment purposes and includes cryptocurrencies, non-fungible tokens, utility tokens, stablecoins and security tokens, while excluding digital representations of fiat currencies, securities and other financial assets under the Reserve Bank of Fiji Act and the Companies Act 2015. Contraventions constitute an offence punishable on conviction by a fine not exceeding $1,000,000 or imprisonment for up to 14 years.
Reserve Bank of Fiji 2025-09-05
Reserve Bank of Fiji confirms amended law banning virtual asset service providers and related promotion to Fiji residents
The Reserve Bank of Fiji has amended the Reserve Bank of Fiji Act 1983 to prohibit virtual asset services in Fiji, effective 30 August 2025, with violations punishable by fines up to $1,000,000 or imprisonment for up to 14 years. The ban applies to any person or entity, covering activities such as exchanging virtual assets, marketing, and providing related financial services to Fiji residents.