Is Crypto Legal In Fiji?

Cryptocurrency is illegal in Fiji following comprehensive legislation enacted through the Reserve Bank of Fiji Act amendment that took effect on August 30, 2025. The legislation prohibits any natural or legal person in or outside Fiji from carrying on the business of a virtual asset service provider, including cryptocurrency exchanges, transfers, safekeeping, administration, and marketing to Fiji residents (1). Virtual assets are defined as digital representations of value including Bitcoin, Non-Fungible Tokens, utility tokens, stablecoins, and security tokens, excluding digital representations of fiat currencies and regulated financial assets (1).

The Reserve Bank of Fiji emphasized in April 2024 that cryptocurrencies are not recognized as legal tender, and purchasing or investing in virtual assets using funds held in Fiji is illegal under the Exchange Control Act. The RBF has not licensed or authorized any entity to offer cryptocurrency investments or trade in virtual assets, warning that penalties may be applied to Fijian residents who invest abroad without prior RBF approval (1). The National Anti-Money Laundering Council supported the prohibition, citing risks including money laundering, terrorist financing, and proliferation financing facilitated by cryptocurrency's anonymous and cross-border nature (1).

"Any natural or legal person who contravenes section 22(2) of the RBF Act commits an offence and is liable on conviction to a fine not exceeding $1,000,000 or imprisonment for a term not exceeding 14 years."

The International Monetary Fund's 2024 analysis emphasized that Pacific Island countries face unique challenges with cryptocurrency adoption due to limited technological and regulatory capacity. While some Pacific nations like Vanuatu and Nauru license crypto companies, Fiji prioritized financial stability and national security over cryptocurrency's potential benefits (2). The RBF is exploring central bank digital currency development to address financial inclusion objectives while maintaining regulatory control, though cash remains the primary transaction mode for most Fijians (2).

Source:
https://www.rbf.gov.fj/wp-content/uploads/2025/09/Press-Release-No-15-VASP-Prohibition.pdf
https://www.elibrary.imf.org/downloadpdf/view/journals/087/2024/003/087.2024.issue-003-en.pdf

Last updated: 18-10-2025 Disclaimer: This article does not provide legal advice. If you need legal advice, please contact an attorney directly.