Crypto Overview in Samoa

Regulatory data is for informational purposes only and may not reflect the most current legal developments. Always consult qualified professionals before making decisions.

Legal Classification & Regulatory Framework

Cryptocurrency Status

Cryptocurrencies are legal to own and trade in Samoa but do not have legal tender status. The Central Bank of Samoa (CBS) has stated that cryptocurrencies are not currencies issued or regulated by the central bank, and that anyone who invests in them does so at their own risk. While there is no blanket ban on cryptocurrency, the CBS does not endorse or encourage investment in unregulated digital currencies.

Samoa’s regulatory approach was directly shaped by the OneCoin fraud that targeted the Samoan diaspora community through churches in New Zealand and Australia between 2018 and 2019. An estimated US$2.3 million was funneled through these networks, affecting approximately 500 parishioners. In response, the Money Laundering Prevention Amendment Act 2018 added “dealers or promoters of virtual or digital currency, or anything related to block chain technology” to the definition of “Financial Institution,” bringing all crypto-related businesses under the same regulatory obligations as banks and insurers.

Tax Treatment

Samoa does not have crypto-specific tax provisions. Cryptocurrency gains fall under the general Income Tax Act 2012. Capital gains from the disposal of assets held less than 12 months are taxed at 10%, while gains on assets held longer are taxed at the standard 27% rate. Corporate income tax is 27% for resident companies on all taxable income and for non-residents on Samoa-sourced income. Personal income tax follows a progressive scale from 10% to 27%.

International Companies registered under the International Companies Act 1987 enjoy 0% tax on foreign-sourced income, including capital gains and withholding tax, provided they do not conduct business within Samoa. The Value Added Goods and Services Tax (VAGST) stands at 15%, though its application to cryptocurrency transactions has not been formally addressed.

Regulatory Oversight

The Central Bank of Samoa serves as the primary regulator for cryptocurrency-related matters. The CBS Governor acts as the Money Laundering Prevention Authority responsible for implementing the Money Laundering Prevention Act. The Samoa Financial Intelligence Unit (FIU), operating under the CBS, handles suspicious transaction reporting and AML supervision.

Under the 2018 amendment, cryptocurrency dealers and promoters must obtain a valid business license, seek prior approval from the CBS before conducting promotions, comply with customer due diligence requirements, and report suspicious transactions. Violations carry penalties including imprisonment, fines, or both. Despite this framework, no Virtual Asset Service Providers are currently registered or operating in Samoa.

Business Environment

Banking Relationships

Samoa faces significant challenges with banking access that extend well beyond the cryptocurrency sector. The Pacific region has experienced a 60% decline in correspondent banking relationships since 2011, double the global average. This de-risking trend has left remittance corridors fragile, forced smaller Money Transfer Operators to close or consolidate, and pushed some transactions through unregulated channels. Remittance fees across Pacific corridors average 10%, more than triple the UN Sustainable Development Goal target of 3%.

In 2024, the World Bank launched the US$77 million Pacific Strengthening Correspondent Banking Relationships Project across eight countries including Samoa. Each participating country committed US$9 million toward compliance reforms, a regional stand-by facility, and a feasibility study for a Pacific Payments Mechanism. For cryptocurrency businesses specifically, no Samoan bank is known to provide services, and the combination of the CBS’s cautious stance and the broader de-risking environment creates substantial barriers to establishing banking relationships.

Licensing Requirements

Samoa does not offer a dedicated cryptocurrency or VASP license. Instead, the 2018 amendment to the Money Laundering Prevention Act classifies all crypto dealers and promoters as financial institutions, subjecting them to the same compliance obligations as traditional financial services providers. This includes customer due diligence, record keeping, suspicious transaction reporting, and ongoing CBS supervision.

The CBS is currently developing a new Money Laundering Prevention Bill, drafted with IMF technical assistance, to replace the 2007 Act entirely. Public consultations closed in January 2026. This new legislation is expected to more comprehensively address virtual asset regulation ahead of Samoa’s APG mutual evaluation scheduled for 2027.

Innovation Support

In November 2024, the CBS launched a Regulatory Sandbox for fintech innovation, developed in alignment with the Pacific Regional Regulatory Sandbox Guidelines and supported by the Alliance for Financial Inclusion. The sandbox allows private sector firms to test innovative financial products in a controlled environment before market deployment. It is part of Samoa’s National Financial Inclusion Strategy 2022/2023-2025/2026, which focuses on expanding account ownership, digital literacy, and support for micro, small, and medium enterprises.

Samoa participates in the Pacific Islands Regional Initiative (PIRI), joining six other central banks in developing a regional sandbox framework. The CBS has acknowledged blockchain technology’s potential for promoting financial inclusion while maintaining its cautious stance on cryptocurrency investment, consistently distinguishing between the underlying technology and speculative digital assets.

Market Characteristics

Adoption Patterns

Cryptocurrency adoption in Samoa remains limited. The small domestic economy, cautious regulatory stance, and the lasting impact of the OneCoin fraud have shaped public perception of digital assets. The Samoan diaspora, concentrated in New Zealand, Australia, and the United States, represents a significant remittance corridor where blockchain-based solutions could theoretically reduce transfer costs, though no Samoa-specific blockchain remittance initiatives have been identified. Current efforts focus on traditional improvements through multilateral banking projects.

Industry Focus

Samoa’s financial sector priorities center on financial inclusion, correspondent banking preservation, and digital economy development rather than cryptocurrency adoption. The 2024 IMF Article IV Consultation emphasized that “any initiatives to promote digital assets should be approached with extreme caution” given Samoa’s limited financial sector depth and modest regulatory capacity. The CBS’s fintech sandbox and the broader Pacific regional initiatives signal interest in controlled digital innovation, but the focus remains on foundational financial infrastructure rather than cryptocurrency markets.

Regulatory Evolution

Samoa’s approach to cryptocurrency regulation has evolved through three phases. The initial response was reactive, driven by the OneCoin fraud and resulting in the 2018 amendment that classified crypto entities as financial institutions. The current phase focuses on strengthening the broader AML/CFT framework through the National AML/CFT Strategy 2024-2026 and the new Money Laundering Prevention Bill. The upcoming APG mutual evaluation in 2027 serves as a key driver for these reforms.

Samoa is not on the FATF grey list but remains in enhanced follow-up with the Asia/Pacific Group on Money Laundering following its 2015 mutual evaluation. The country has made incremental progress, with re-ratings achieved on several FATF Recommendations through its follow-up reports. The trajectory suggests continued tightening of regulatory standards, particularly around virtual assets, as Samoa prepares for the 2027 evaluation and aligns with broader Pacific regional frameworks.

For Current Information:

• Central Bank of Samoa (CBS)
• Samoa Financial Intelligence Unit (FIU)
• Samoa Ministry of Customs and Revenue
• APG Member Page: Samoa
• FATF Country Page: Samoa