Samoa lacks a dedicated VASP licensing regime — no exchange, custody, or payment-processor license exists under any specific virtual asset law, leaving the Financial Institutions Act 1998 as the primary anchor for general financial services regulation, with no licensing or registration framework established for crypto-specific activities. The Financial Intelligence Unit (FIU), empowered by the Financial Intelligence Unit Act 2007, oversees AML/CFT compliance, and the Money Laundering Prevention Amendment Act 2021 explicitly brought VASPs within the scope of the Money Laundering Prevention Act 2007, imposing reporting-entity obligations — including AML/KYC measures and suspicious transaction reporting — on virtual asset service providers despite the absence of a formal authorization pathway. (palemene.ws, fiu.gov.ws, ifsa.gov.ws)
Empowers the Central Bank of Samoa to regulate and oversee the sector.
Samoa Law Reform Commission (likely hosts consolidated laws): http://www.palemene.ws/index.php/legislation/statutes/
Website: Information on the FIU is often integrated with the Ministry of Finance or a broader government portal.
Can specific business models operate in Samoa? Each card answers the operational question for one kind of operator. Curated cells reflect counsel-grade review; AI-generated cells should be confirmed before relying on them.
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AI · Unreviewed| Law / Regulation | Year | Scope |
|---|---|---|
| Proceeds of Crime Act 2007 (as amended) | 2007 | Proceeds of Crime Act 2007 (as amended): This is the primary legislation for AML/CFT in Samoa. |
| Proceeds of Crime Act 2007 | 2007 | Note: You may need to search for "Proceeds of Crime Act 2007" within the legislation database. |
| Financial Institutions Act 1998 (as amended) | 1998 | Financial Institutions Act 1998 (as amended): This Act governs the licensing and supervision of traditional financial institutions (banks, non-bank financial institutions). |
| VASP Act 2020 | 2020 | Virtual Asset Service Providers Act 2020 (VASP Act 2020) |
No verified facts yet. 48 unverified fact(s) in explorer
Money Laundering Prevention Act 2007 (MLPA 2007): This is the principal AML/CFT legislation. It mandates reporting entities (which typically include VASPs, even if not explicitly named, under broader definitions of financial institutions or through specific guidance/regulations) to implement measures to prevent money laundering and terrorist financing. This includes identifying and freezing assets of designated persons and entities.
Prevention and Suppression of Terrorism Act 2002 (PSTA 2002): This Act provides the legal basis for preventing and suppressing terrorism financing, including the freezing of assets of designated terrorist individuals and entities as mandated by UN Security Council Resolutions.
Money Laundering Prevention Act 2007 (MLPA 2007): This is the principal AML/CFT legislation. It mandates reporting entities (which typically include VASPs, even if not explicitly named, under broader definitions of financial institutions or through specific guidance/regulations) to implement measures to prevent money laundering and terrorist financing. This includes identifying and freezing assets of designated persons and entities.
Legal Reference: Money Laundering Prevention Act 2007 (as amended)
Money Laundering Prevention Regulations 2017: These regulations provide more detailed requirements for reporting entities, including obligations related to targeted financial sanctions. They specify how entities must implement measures to comply with UN sanctions.
Legal Reference: Money Laundering Prevention Act 2007 (as amended)
Legal Reference: Prevention and Suppression of Terrorism Act 2002 (as amended)
Extraterritorial Reach: OFAC (U.S. Office of Foreign Assets Control), EU, and UK sanctions have significant extraterritorial reach. Transactions involving U.S. persons or the U.S. financial system, EU/UK persons, or entities subject to their jurisdiction can trigger compliance obligations, regardless of where the VASP is based. Given the borderless nature of crypto, such connections are common.
Correspondent Banking: VASPs often rely on traditional financial institutions for fiat on/off-ramps, which themselves are subject to global sanctions regimes. Non-compliance with major sanctions by a VASP can jeopardize these crucial banking relationships.
FATF Recommendations: Samoa is a member of the Asia/Pacific Group on Money Laundering (APG), a FATF-style regional body. FATF Recommendation 6 (Terrorist Financing) and 7 (Proliferation Financing) require countries to implement targeted financial sanctions. Recommendation 15 specifically applies AML/CFT requirements to Virtual Assets (VAs) and VASPs. This means VASPs must adopt a risk-based approach that includes sanctions screening.
Reputational Risk: Associating with sanctioned entities or jurisdictions can severely damage a VASP's reputation and ability to operate internationally.
Risk-Based Approach: VASPs must conduct a comprehensive risk assessment of their business, customers, and transactions, identifying and mitigating sanctions risks.
Customer Due Diligence (CDD) & Enhanced Due Diligence (EDD): This includes identifying beneficial owners and understanding the purpose of transactions.
Sanctions Screening: Implementing robust real-time and ongoing screening of all customers, counterparties, and transactions against relevant sanctions lists (UN, OFAC SDN, EU Consolidated, UK HMT, etc.).
Transaction Monitoring: Monitoring transactions for patterns indicative of sanctions evasion or dealings with sanctioned entities/jurisdictions.
Freezing of Funds/Assets: Immediate freezing of funds/assets and prohibition of services if a match with a sanctioned entity is found.
Reporting: Prompt reporting of matches and frozen assets to the Central Bank of Samoa (CBS) or relevant authorities.
Primary Obligation (Samoa Law): Screening against the UN Consolidated Sanctions List (which includes individuals and entities designated under various UN resolutions, e.g., Al-Qaida, ISIL, Taliban, DPRK, Iran). This is directly mandated by Samoa's MLPA and PSTA.
Best Practice / Indirect Obligation (Global Interoperability): To effectively manage risk and comply with extraterritorial sanctions, VASPs should also screen against:
OFAC Specially Designated Nationals (SDN) List and other OFAC lists.
EU Consolidated List of Persons, Groups, and Entities Subject to EU Financial Sanctions.
UK HM Treasury Consolidated List of Financial Sanctions Targets.
Other relevant national sanctions lists depending on their global footprint and customer base.
All customers during onboarding (Know Your Customer - KYC).
Originators and beneficiaries of virtual asset transfers (in line with FATF's "Travel Rule").
Ongoing monitoring of existing customers and transactions.
UN Sanctions Programs: Restrictions on dealings with countries or entities subject to comprehensive UN sanctions (e.g., related to DPRK, Iran, etc.).
OFAC/EU/UK Sanctions: These regimes impose significant restrictions on dealings with comprehensively sanctioned jurisdictions (e.g., Cuba, Iran, North Korea, Syria, certain regions of Ukraine, and often specific individuals/entities in other countries). VASPs must ensure they do not facilitate transactions that directly or indirectly benefit these jurisdictions or their sanctioned entities.
FATF High-Risk Jurisdictions: While not a "sanction," the FATF identifies "high-risk jurisdictions" (e.g., on the FATF "black list" or "grey list"). VASPs are expected to apply enhanced due diligence to business relationships and transactions with persons and financial institutions from these countries.
Money Laundering Prevention Act 2007 (MLPA 2007): This is the principal AML/CFT legislation. It mandates reporting entities (which typically include VASPs, even if not explicitly named, under broader definitions of financial institutions or through specific guidance/regulations) to implement measures to prevent money laundering and terrorist financing. This includes identifying and freezing assets of designated persons and entities.
Individuals: Imprisonment for a term not exceeding 10 years or a fine not exceeding 500,000 Tala (WST), or both.
Body Corporates: Fines not exceeding 1,000,000 Tala (WST).
Specific penalties exist for failing to report suspicious transactions, failing to comply with freezing orders, or obstructing investigations.
Legal Reference: Sections 31-35 of the Money Laundering Prevention Act 2007
Terrorism Financing: Imprisonment for life or for a term not less than 10 years.
Failure to Freeze Assets: Imprisonment for a term not exceeding 10 years or a fine not exceeding 500,000 Tala (WST), or both.
Legal Reference: Sections 10-12 of the Prevention and Suppression of Terrorism Act 2002
Travel rule data collection in progress.
Tax reporting data collection in progress.
Custody regulation data collection in progress.
Stablecoin regulation data collection in progress.
Central Bank of Samoa (CBS) – responsible for monetary stability and financial supervision under the Banking Act (2004). Website: https://cbs.gov.ws/monetary-operation
Office of the Regulator (OOTR) – oversees telecommunications, broadcasting, postal services, and electricity sectors. Website: https://regulator.gov.ws/about-us
Banking Act 2004 (Legislation No. 10 of 2004) – governs banking institutions but does not cover cryptocurrencies directly.
Telecommunications Act 2005 (Legislation No. 9 of 2005) – covers telecommunications services; no explicit reference to digital assets.
Broadcasting, Postal Services and Electricity Acts 2010 – extend regulatory oversight to broadcasting, postal services, and electricity but omit crypto-specific provisions.
Samoa is a member of the Financial Action Task Force (FATF) and adheres to its AML/CFT standards. No dedicated digital asset guidance exists in current FATF recommendations targeting Samoan regulators.
Who Needs a License?: As of now, no specific license is required for crypto-related activities under Samoan law. However, any entity offering tokenized securities or virtual asset services may fall under the purview of the Office of the Regulator if classified as an information and communications technology (ICT) service.
Issuance of digital securities or tokens that are deemed “securities” under future Samoan legislation.
Money transmission or exchange services involving cryptocurrencies, which would be subject to CBS exchange control regulations.
Capital Requirements: No monetary thresholds have been published; any prospective licensee would need to meet general financial soundness criteria outlined in the Banking Act and Telecommunications Act, but these are vague for crypto-specific use cases.
Submit an application to OOTR or CBS, depending on sector classification (e.g., ICT services vs. banking).
Provide compliance with AML/CFT standards per the Financial Intelligence Unit guidelines.
Timeline and Structural Requirements: Application processing timelines are unspecified but likely follow standard regulatory review periods (typically 30‑90 days). Entities must demonstrate operational capability, governance structure, and adherence to sector-specific rules.
Licensed Entities: As of 2025‑2026, no entities have been officially licensed for cryptocurrency or digital asset securities in Samoa.
Customer Due Diligence (CDD): Must be conducted before onboarding any client engaging in crypto transactions. Includes identity verification and source-of-funds checks.
Enhanced Due Diligence (EDD): Required for high-risk customers, such as politically exposed persons (PEPs) or those from jurisdictions with elevated money‑laundering risks.
Suspicious Transaction Reporting (STR): Obligated to report any suspicious activity to the Financial Intelligence Unit (FIU) within 5 days of detection.
Record Retention: Maintain customer records and transaction logs for at least five years, as stipulated by the AML/CFT Regulations under the Banking Act.
Beneficial Ownership Disclosure: Public disclosure of beneficial ownership is mandated for entities engaging in cross-border crypto services, aligning with FATF recommendations.
No enforcement actions related to cryptocurrency or digital asset securities have been reported as of 2025‑2026. The lack of regulatory clarity has thus far prevented any formal penalties or arrests.
No explicit tax guidance exists for virtual assets in Samoa. Cryptocurrency gains are generally treated under the Income Tax Act (1992) as capital gains, but this is speculative and not formally confirmed by Samoan tax authorities.
Regulatory Ambiguity: Absence of specific legislation targeting digital asset securities creates uncertainty for market participants.
AML/CFT Compliance Risk: Without clear licensing pathways, entities may inadvertently violate AML/KYC obligations, exposing them to legal repercussions.
Cross‑Border Operations: International crypto services remain under the purview of exchange control regulations, posing operational challenges.
Future Legislative Development: The Office of the Regulator and CBS are likely to introduce comprehensive digital asset regulations within the next few years, but timelines are unspecified.
Central Bank of Samoa - Monetary Operation
About Us - Office of the Regulator
The Central Bank of Samoa oversees monetary policy and financial stability, with sections dedicated to Monetary Operation and Financial Supervision & Regulation. However, specific references to cryptocurrency regulation are absent. Central Bank of Samoa - Monetary Operation
The Office of the Regulator provides a broad oversight framework but does not explicitly regulate digital assets under current statutes. Its consultation documents and licensing criteria hint at potential future expansion into ICT‑related services, which could indirectly affect crypto activities. About Us - Office of the Regulator
Central Bank of Samoa - Monetary Operation
About Us - Office of the Regulator
Sanctions data collection in progress.
No verified facts yet. 21 unverified fact(s) in explorer
Likely enforcement action expected around 2026-10-05
Based on 72 historical regulatory events for Samoa, averaging every 29 days, with increasing regulatory activity.
The concept of a "Qualified Custodian," which is primarily a term used in U.S. securities law (e.g., under the SEC's Custody Rule), does not exist within Samoa's current regulatory framework for virtual assets.
As of early 2024, there are no publicly announced or readily discoverable proposals or drafts for specific, dedicated crypto custody legislation in Samoa beyond the existing AML/CFT framework.
Samoa, like other jurisdictions, is generally influenced by the recommendations of the Financial Action Task Force (FATF). Any future legislative changes are most likely to stem from updates to FATF guidelines on virtual assets and VASPs, which might lead to broader amendments to the Money Laundering Prevention Act, but not necessarily a standalone "custody law."
Licensing Regime: Not established for VASPs.
Central Bank of Samoa (CBS):
Financial Intelligence Unit (FIU) Samoa: The FIU is responsible for receiving, analyzing, and disseminating suspicious transaction reports (STRs) and other financial information to combat money laundering and terrorist financing. They would be the enforcement body for AML/CFT compliance.
Financial Institutions Act 1998 (as amended): This Act governs the licensing and supervision of traditional financial institutions (banks, non-bank financial institutions). While not directly applicable to pure crypto businesses, it sets the standard for financial regulation in Samoa.
Money Laundering Prevention Regulations 2017: These regulations provide more detailed requirements for reporting entities, including obligations related to targeted financial sanctions. They specify how entities must implement measures to comply with UN sanctions.
Extraterritorial Reach: OFAC (U.S. Office of Foreign Assets Control), EU, and UK sanctions have significant extraterritorial reach. Transactions involving U.S. persons or the U.S. financial system, EU/UK persons, or entities subject to their jurisdiction can trigger compliance obligations, regardless of where the VASP is based. Given the borderless nature of crypto, such connections are common.
Correspondent Banking: VASPs often rely on traditional financial institutions for fiat on/off-ramps, which themselves are subject to global sanctions regimes. Non-compliance with major sanctions by a VASP can jeopardize these crucial banking relationships.
FATF Recommendations: Samoa is a member of the Asia/Pacific Group on Money Laundering (APG), a FATF-style regional body. FATF Recommendation 6 (Terrorist Financing) and 7 (Proliferation Financing) require countries to implement targeted financial sanctions. Recommendation 15 specifically applies AML/CFT requirements to Virtual Assets (VAs) and VASPs. This means VASPs must adopt a risk-based approach that includes sanctions screening.
Risk-Based Approach: VASPs must conduct a comprehensive risk assessment of their business, customers, and transactions, identifying and mitigating sanctions risks.
Sanctions Screening: Implementing robust real-time and ongoing screening of all customers, counterparties, and transactions against relevant sanctions lists (UN, OFAC SDN, EU Consolidated, UK HMT, etc.).
Transaction Monitoring: Monitoring transactions for patterns indicative of sanctions evasion or dealings with sanctioned entities/jurisdictions.
Reporting: Prompt reporting of matches and frozen assets to the Central Bank of Samoa (CBS) or relevant authorities.
Primary Obligation (Samoa Law): Screening against the UN Consolidated Sanctions List (which includes individuals and entities designated under various UN resolutions, e.g., Al-Qaida, ISIL, Taliban, DPRK, Iran). This is directly mandated by Samoa's MLPA and PSTA.
Best Practice / Indirect Obligation (Global Interoperability): To effectively manage risk and comply with extraterritorial sanctions, VASPs should also screen against:
UN Sanctions Programs: Restrictions on dealings with countries or entities subject to comprehensive UN sanctions (e.g., related to DPRK, Iran, etc.).
OFAC/EU/UK Sanctions: These regimes impose significant restrictions on dealings with comprehensively sanctioned jurisdictions (e.g., Cuba, Iran, North Korea, Syria, certain regions of Ukraine, and often specific individuals/entities in other countries). VASPs must ensure they do not facilitate transactions that directly or indirectly benefit these jurisdictions or their sanctioned entities.
Securities Act 1984 (or a subsequent consolidation/amendment)
Investment Contracts: This is the broad category where most security tokens would fall. While the Act might not define "investment contract" as extensively as U.S. courts have, the underlying intent is to capture arrangements where:
AML/CFT Compliance: Any platform or entity facilitating trading in virtual assets (regardless of whether they are securities or not) would be subject to Samoa's Anti-Money Laundering and Counter-Financing of Terrorism (AML/CFT) laws and regulations, overseen by the Central Bank of Samoa (CBS) and the SFSA.
Central Bank of Samoa (CBS): Responsible for monetary policy, financial stability, and often plays a role in AML/CFT supervision.
Licensing Required: Entities wishing to operate as cryptocurrency exchanges or provide any form of virtual asset trading services (which fall under the definition of a Virtual Asset Service Provider) must obtain a license from the Central Bank of Samoa under the Virtual Asset Service Providers Act 2020.
Central Bank of Samoa - Monetary Operation
- The Central Bank of Samoa oversees monetary policy and financial stability, with sections dedicated to Monetary Operation and Financial Supervision & Regulation. However, specific references to cryptocurrency regulation are absent. Central Bank of Samoa - Monetary Operation
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