Fiji Reaffirms Ban on Crypto Service Providers Over Financial Crime Risks
Fiji’s National Anti-Money Laundering Council (NAML) has doubled down on its prohibition of VIRTUAL asset service providers, citing the decentralized and pseudonymous nature of cryptocurrencies as a magnet for illicit activity. The council’s stance reflects growing global tensions between innovation and regulation in the digital asset space.
While the ban underscores jurisdictional risks for crypto businesses, it contrasts sharply with accelerating institutional adoption elsewhere. Market participants will be watching for Ripple effects across Pacific Island economies and potential knock-on impacts for cross-border remittance corridors.