Is crypto legal in Kiribati? Regulation & rules (2026)

Kiribati uses the Australian dollar and has no central bank, meaning there is no monetary authority with a mandate to regulate or issue guidance on digital assets or stablecoins.

The Kiribati Financial Supervisory Authority was created by the Financial Supervisory Authority of Kiribati Act (2021) and the Financial Institutions Act (2021). As of the IMF's 2024 Article IV Consultation, a board had been appointed but the KFSA remained understaffed (including the CEO position) and not fully operationalized, with no crypto-specific rules issued.

The IMF has explicitly stated that 'unbacked crypto assets are not suitable as official currency and means of payments and therefore should not be supported by the official sectors' for Pacific Island Countries including Kiribati, while suggesting exploration of robustly regulated foreign-currency-backed stablecoins.

As of 2025, Kiribati has not undergone a FATF mutual evaluation on AML/CFT standards, including compliance with FATF Recommendation 15 on virtual assets and VASPs. Most Pacific Island countries have been identified as having inadequate beneficial-ownership and AML systems.

There is no legislation or official statement banning cryptocurrency in Kiribati. However, the extremely limited financial infrastructure, very low GDP per capita, and absence of any crypto licensing or consumer-protection rules mean there is no regulated domestic crypto market.