Fiji reiterates ban on crypto services, citing money laundering and security risks

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On September 24th, Fiji's National Anti-Money Laundering Council (NAMLC) announced that Fiji reiterated its complete ban on virtual asset service providers (VASPs), citing the serious risks posed by cryptocurrencies in money laundering, terrorist financing, and the financing of weapons of mass destruction proliferation. NAMLC stated that the anonymity and cross-border nature of cryptocurrencies make them particularly vulnerable to exploitation by criminals.

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