The central bank of the Pacific island country of Fiji has released a note to the public cautioning that cryptocurrencies and virtual assets such as Bitcoin, Ethereum, and Tether are not recognised as legal tender in the country. In an announcement, the Reserve Bank of Fiji said it is illegal for any individuals to purchase or invest in cryptocurrencies using funds held in Fiji. The Reserve Bank of Fiji Governor Ariff Ali has acknowledged that there are businesses promoting cryptocurrency investment schemes in Fiji through various platforms including social media. Last year it emerged more than 40 countries had made significant strides in advancing crypto-focused regulations and legislation in 2023.
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