In a dramatic move that has attracted global attention, the Reserve Bank of Fiji (RBF) has given a blanket ban on the operation of all cryptocurrency and virtual asset services in Fiji. The legislation, which took effect on 30 August 2025, is a sharp contrast to the regulatory model seen across much of the Pacific and now ranks Fiji as one of the strictest jurisdictions in the world for digital assets.
The new Reserve Bank of Fiji Act 1983 now criminalizes any individual or business entity—foreign or domestic—that provides, markets, or facilitates virtual asset services to Fijian residents. These include exchanging, transferring, holding, or advertising digital assets such as Bitcoin, non-fungible tokens (NFTs), stablecoins, and other forms of cryptocurrency.
A Complete Prohibition
The move is aimed at protecting the Fijian public and financial system from possible risks created by risk-taking and largely unregulated virtual currencies, according to an official statement of the RBF.
The toughness of this legislation is that it includes a broad scope of activities. It prohibits:
- Cryptocurrency trading and exchange platforms.
- Advertising or promotion of any crypto-based product or service to the citizens of Fiji.
- Rendering customer services or enabling technical services of any of the crypto-based transactions.
The banning is regardless of the location of the service provider, either within Fiji or outside Fiji. The banning is international in nature, with offshore firms operating online still being penalized for enabling services for Fiji users.
Not All Digital Finance Affected
It should be noted that the law is directly targeting virtual assets as set out under international financial standards. This includes cryptocurrencies and blockchain tokens but excludes:
- Digital substitutes for fiat currency (e.g., online banking, mobile money).
- Traditional securities that are otherwise regulated under other legislation.
This carve-out indicates that although the government is interested in embracing some forms of digital finance, it is firmly opposed to decentralized and unregulated instruments.
Impact on Business and Investment
The immediate impact of the ban is clear: any crypto business that wants to operate in Fiji must shut down operations immediately. Fintech businesses, particularly start-ups and foreign exchanges looking to expand into the Pacific, will need to re-evaluate their plans.
Fijian investors who had participated in foreign cryptocurrency markets may also find themselves in a state of legal uncertainty. The RBF has yet to define whether digital assets are illegal to own or whether only service providers will be enforced against.
A Regional Outlier
Whereas nations such as Australia and New Zealand have instead chosen to govern the cryptocurrency market, Fiji is choosing to ban it altogether. This makes the country stand out in the Oceania region and potentially could have broader implications for the way that other small island nations react to increasing crypto market influence.
Fiji’s decision to outlaw all forms of cryptocurrency and virtual asset services represents a dramatic and arguably controversial shift in financial policy. For some, it’s a prudent move to protect consumers from the inherent risks of digital assets. For others, it’s a missed opportunity for innovation and economic diversification.
A Strategic Step Toward Financial Integration
At the Commonwealth Union, we are defining the future of global finance by bringing together government, finance, and technology decision-makers. With our Crypto and Blockchain Vertical, we have been facilitating meaningful cross-border collaboration and new investment and innovation opportunities.
In the future, we are excited to announce planning for the launch of a Digital Banking Network. We intend to improve access to economic opportunities and financial services across the Commonwealth and MENA regions.
If you wish to learn more or express interest before the official launch, please get in touch via: Info@commonwealthdigitalbankingclub.com
