Is crypto legal in Solomon Islands? Regulation & rules (2026)

CBSI has publicly warned that cryptocurrencies such as Bitcoin and Ethereum are not issued or regulated by the Central Bank, carry no legal-tender status, and that users invest at their own risk. No exchange or custody licensing regime exists.

CBSI launched a proof-of-concept CBDC called Bokolo Cash (1 Bokolo = 1 Solomon Islands dollar) in November 2023, built on a Hyperledger Iroha 2 permissioned blockchain by Soramitsu. The pilot covers retail payments in Honiara, P2P transfers, and simulated wholesale and cross-border transactions with two-tier KYC.

Under the Central Bank of Solomon Islands Act 2012, CBSI holds the sole legal authority to issue currency in Solomon Islands. Private cryptocurrencies therefore fall entirely outside the monetary legal framework.

The Solomon Islands Financial Intelligence Unit (SIFIU), hosted within CBSI, is mandated to combat money laundering and terrorist financing and align with FATF standards. However, no specific VASP registration or Travel Rule obligations have been enacted for crypto businesses.

As of mid-2026, Solomon Islands has enacted no standalone digital-asset act, securities-law classification for tokens, or VASP licensing regime. The Financial Institutions Act applies only to licensed banking businesses and does not address crypto exchanges or custodians.

The Income Tax Act Cap. 123 administered by the Inland Revenue Division does not contain any provision specifically addressing cryptocurrency gains, staking rewards, or digital-asset transactions. Tax treatment of crypto remains formally unclear.