VASPs

Fiji Reaffirms Ban on Crypto Service Providers Over Financial Crime Risks
$BTC
Fiji’s National Anti-Money Laundering Council (N#NAML ) has reaffirmed its prohibition on Virtual Asset Service Providers (#VASPs ), citing the high risks of money laundering, terrorist financing, and other financial crimes.
Key Points
Risk-Based Approach: The ban aligns with global standards, including those set by the Financial Action Task Force (#FATF ).
Concerns Raised: Authorities argue that the decentralized and anonymous nature of cryptocurrencies makes them vulnerable to misuse by criminal and extremist groups.
Previous Warnings: In 2024, Fiji’s central bank banned the use of local debit and credit cards for crypto purchases, warning residents about penalties for acquiring digital assets.
Security Threats: NAML emphasized that cryptocurrencies can be exploited for laundering illicit funds, financing terrorism, and even funding weapons of mass destruction.
Limited Oversight: Fiji acknowledges the benefits of regulation but admits its supervisory capacity is not strong enough to safely manage the sector at this stage.
Official Statement
Council Chair and Permanent Secretary for Justice, Selina Kuruleca, stressed that the ban is intended to protect Fiji’s financial system and its people, ensuring a safe and transparent environment for legitimate investment and growth.
Future Outlook
The NAML clarified that the restriction is not permanent. Fiji may review the policy once global standards mature and its own regulatory and technological systems strengthen.
$XRP
$SOL

ISLAMABAD, Aug 1 (APP):As Pakistan and the United States wrap up a historic chapter in economic diplomacy with the successful conclusion of trade negotiations, the two nations are now setting their sights on a new frontier of digital finance and blockchain innovation.

According to press release issued by finance ministry here Friday, a high-level meeting between Pakistan’s Minister of State for Crypto and Blockchain, Bilal Bin Saqib, and Bo Hines, Executive Director of President Trump’s Council of Advisers on Digital Assets on July 31, marked a significant step forward in bilateral cooperation on emerging technologies.
The meeting focused on global coordination of crypto policy and Pakistan’s ambitions to establish itself as a regional hub for Web3 innovation.
This development came just one day after the U.S. unveiled its long-anticipated Digital Asset Framework—a comprehensive blueprint for digital asset regulation—signaling a shift in international policy alignment.
The timing of the engagement underscores a growing convergence between the two nations, suggesting that the Pakistan–U.S. relationship was evolving beyond traditional trade to encompass cutting-edge areas of financial innovation.
The July dialogue builds on Minister Saqib’s landmark visit to the US in June, during which he held extensive discussions with prominent US lawmakers, including Senators Cynthia Lummis, Tim Sheehy, and Rick Scott, as well as New York City Mayor Eric Adams and Bo Hines.
These engagements laid the groundwork for future collaboration on digital finance regulation and blockchain integration.
Bilal Bin Saqib also serves as CEO of the Pakistan Crypto Council (PCC)—the nation’s leading regulatory body for virtual assets. The PCC is tasked with developing and implementing Pakistan’s national crypto strategy, including legislative frameworks, licensing systems for Virtual Asset Service Providers (VASPs), and promoting blockchain adoption across public and private sectors.
As global momentum around digital asset regulation builds, the growing cooperation between Pakistan and the US may position both nations at the forefront of a new era of financial innovation, policy coordination, and economic transformation, the statement added.
#PakistanCrypto
#USPakistanCooperation
#FinancialInnovation
#GlobalCrypto
#VASPs
$BTC $BNB $ETH

Colombia is making new strides in legalizing and managing the crypto market, with a bill recently submitted to establish a clear legal framework for the industry. This is not the first time the country has attempted to pass crypto legislation, but will it succeed this time?
Colombia's New Crypto Bill
According to El Colombiano, the bill proposed by Senator Gustavo Moreno and Representative Julian Lopez on March 3, 2025. Previously, Colombia had attempted to establish crypto regulations in 2024 and 2022, but both efforts failed.