Fiji: crypto & digital assets regulation

The Reserve Bank of Fiji (RBF) is the primary regulator for virtual assets in Fiji, following the enactment of the Reserve Bank of Fiji (Budget Amendment) Act 2025. This legislation amended the Reserve Bank of Fiji Act 1983 to introduce statutory definitions for virtual assets and virtual asset service providers (VASPs). The regulatory framework establishes a licensing regime for entities providing virtual asset services.

A key provision of the 2025 Act is the prohibition on any person carrying on or engaging in virtual asset business without proper authorization. This creates a strict licensing requirement for VASPs operating within the jurisdiction. The RBF is responsible for overseeing compliance with these new statutory requirements.

The regulatory direction of travel indicates a move towards formalizing the oversight of the digital asset sector. By embedding definitions and prohibitions into primary legislation, Fiji has established a legal basis for regulating VASPs. The RBF is expected to enforce these rules to ensure market integrity and consumer protection.