TechFlow, September 24 — According to Crowdfundinsider, the Fiji National Anti-Money Laundering Committee (NAMLC) today issued a statement reaffirming its comprehensive ban on virtual asset service providers (VASPs). NAMLC stated that cryptocurrencies pose serious risks in terms of money laundering, terrorist financing, and proliferation financing of weapons of mass destruction, as their anonymity and cross-border characteristics are easily exploited by criminals. NAMLC Chairperson Selina Kuruleca emphasized that, given the current lack of effective regulatory and enforcement capabilities, Fiji will prioritize protecting its domestic financial system and national security, with policy reassessment to occur only after regulatory and technical frameworks have been improved.
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