You Won’t Believe Why Fiji is Keeping Crypto at Bay. 😲💰

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So, Fiji’s National Anti-Money Laundering Council (NAML) is back at it with their ban on virtual asset service providers (VASPs). Why? Well, apparently, the whole “decentralized and anonymous” vibe of virtual assets just screams, “Hey, criminals, use me!” 🙈

Cue Dramatic Music: Virtual Assets Are Dangerous! 🎶

The NAML has reaffirmed its anti-VASP stance, insisting it’s all about that risk-based approach to keeping us safe-because nothing says security quite like a ban! They claim it’s in line with the Financial Action Task Force (FATF) standards. Who doesn’t love a little international compliance, right? 🙄

In a media release that could win a Pulitzer for being thrilling, the council noted the “significant risks” of cryptocurrencies. You know, like money laundering and, oh, financing terrorists and rogue groups. But, hey, they admit virtual assets are kinda innovative. Just rather dangerous-like giving a child a chainsaw. 🪚

Fun fact: This reaffirmation comes a year after the central bank had a mini meltdown over residents buying virtual assets, even threatening penalties! Apparently, if you thought buying Bitcoin with your debit card was cool, think again. Reportedly by those blockchain wizards at Bitcoin.com News back in April 2024, using local debit and credit cards for crypto? Outlawed! Talk about a buzzkill. 🍷

Meanwhile, NAML continues to sound the alarm about the lightning-speed and anonymity of crypto transactions, giving those sneaky criminals a buffet to feast on. They’re worried about not just money laundering but that some might use virtual assets for buying weapons of mass destruction. Because who doesn’t want a nuclear bomb with their NFT? 💣

Now, here’s the kicker: NAML admits Fiji doesn’t have the superhero capabilities to monitor the wild west of virtual assets, despite some places getting all regulation-happy. So yes, while regulation could be good, they’re basically saying, “Don’t let that slippery crypto catch you off-guard!”

Selina Kuruleca, the council chairperson and chief protector of justice, chimed in, emphasizing that the main priority is to protect Fiji’s financial health and, apparently, our collective sanity. She claims this ban is all about creating a safe and sound environment for legit investments-like a glorious embrace with no sweat, or… you know, corruption. 💤

But fear not, dear crypto fans! This ban isn’t forever. The council said they’ll revisit this whole situation as “global standards evolve.” So keep your fingers crossed and your wallets ready-it could change any day! Until then, the ban is their “necessary and prudent safeguard,” which sounds suspiciously like something your dad would say. 😅

The National Anti-Money Laundering Council was formed to heroically combat money laundering and financial crimes! Can we get a round of applause? 👏 They offer advice and recommendations and are led by the Permanent Secretary for Justice, with members including high-ranking officials from various sectors. It’s like a superhero team, but in suits instead of capes.

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2025-09-21 07:58