Fiji Reaffirms Comprehensive Ban on Virtual Asset Service Providers

According to BlockBeats, the National Anti-Money Laundering Council (NAMLC) of Fiji has reiterated its complete prohibition on virtual asset service providers (VASPs). The decision is based on concerns that cryptocurrencies pose significant risks in areas such as money laundering, terrorism financing, and the funding of weapons of mass destruction proliferation. NAMLC highlighted that the anonymity and cross-border nature of cryptocurrencies make them highly susceptible to exploitation by criminals.