Fiji vs Sri Lanka
Crypto regulation comparison
Fiji
Sri Lanka
Banned
Restricted
All cryptocurrency and virtual asset services banned since August 2025; RBF has not licensed any VASP; penalties up to M fine or 14 years imprisonment
Sri Lanka has no specific cryptocurrency legislation. The CBSL has issued multiple warnings (2018, 2021, 2022, 2023) about crypto risks and has not authorized any entity to operate crypto exchanges, mining, or advisory services. Use of debit/credit cards for crypto is prohibited under the Foreign Exchange Act. The SEC has been discussed as a potential future regulator.
Tax Type
Unclear
Tax Type
Unclear
Tax Rate
N/A
Tax Rate
N/A
Exchanges
No
Exchanges
No
Mining
No
Mining
Yes
Regulator
Reserve Bank of Fiji
Regulator
Central Bank of Sri Lanka, Securities and Exchange Commission
Stablecoin Rules
No stablecoin regulation
Stablecoin Rules
No stablecoin regulation
Key Points
- No specific cryptocurrency legislation
- Reserve Bank warns about crypto risks
- Crypto not recognized as legal tender
- Limited crypto adoption
- No licensing framework for crypto services
Key Points
- CBSL has issued repeated warnings about crypto risks (2018, 2021, 2022, 2023)
- No entity authorized to operate crypto exchanges, mining, or advisory services
- Use of debit/credit cards for crypto prohibited under Foreign Exchange Act
- CBSL requested criminal proceedings against crypto pyramid schemes
- SEC discussed as potential future regulatory authority for digital assets