Fiji

Fiji has explicitly banned all cryptocurrency and virtual asset services. As of August 2025, residents are prohibited from purchasing or trading cryptocurrencies using local funds. Engaging in such activities may lead to criminal charges under the Exchange Control Act, with penalties including fines up to 1 million FJD or 14 years imprisonment. While the Fiji Revenue and Customs Service theoretically classifies cryptocurrencies as property for tax purposes, this classification is moot in practice due to the Reserve Bank of Fiji's comprehensive prohibition on crypto transactions. The Reserve Bank of Fiji (RBF) is the primary authority enforcing the ban on cryptocurrency, operating under the Exchange Control Act. The National Anti-Money Laundering Council (NAML) has also affirmed the complete prohibition on virtual asset service providers, citing risks such as money laundering and terrorist financing. Given the outright ban on all cryptocurrency activities, Fiji does not have a practical tax framework for crypto. Individual income tax, capital gains tax, corporate tax, and crypto-related VAT are not applicable because engaging in the underlying transactions is illegal. There are no distinctions for short-term versus long-term gains, nor are there any exemptions, thresholds, or allowances related to cryptocurrency, as the holding and trading of crypto are prohibited. Similarly, specific cryptocurrency activities such as staking, mining, decentralized finance (DeFi), and trading Non-Fungible Tokens (NFTs) are prohibited. Consequently, there is no established tax treatment for these activities. Converting crypto to fiat currency or performing crypto-to-crypto swaps are also banned transactions, meaning they do not constitute taxable events in Fiji. Fiji has no pending reforms aimed at legalizing cryptocurrency. Instead, the nation has committed to implementing the Common Reporting Standard (CRS) for the automatic exchange of financial account information by 2028. This commitment underscores Fiji's dedication to enhancing financial transparency and reinforces its current stance against integrating cryptocurrencies into its financial system.