Crypto Regulation in Liberia
The Central Bank of Liberia’s (CBL’s) attention has been drawn to a publication made in the May 6, 2021 edition of the FrontPage Africa newspaper, captioned “First Digital Asset Company to be Launched in Liberia”, with particular reference to the launching of Crypto currency in Liberia on May 14, 2021 by an organization named ‘The Abundance Community Coin (TACC).
The CBL herewith clarifies that at no time has the Bank approved any license for the above-mentioned company to transact ANY financial business in Liberia, in accordance with Section 3 (1) of the New Financial Institutions Act of Liberia.
The CBL views the attempt by TACC to introduce a digital financial product in Liberia without adherence to the required regulation as not only illegal, but also intended to undermine the country’s financial system.
Source: BitcoinKe
The CBL views the attempt by TACC to introduce a digital financial product in Liberia without adherence to the required regulation as not only illegal, but also intended to undermine the country’s financial system.
Source: BitcoinKe
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The Central Bank of Liberia (CBL) has warned against a local crypto startup’s plan to proceed with the introduction of a digital financial product without adhering to the required regulation. According to the CBL, this act will not only be illegal but this will likely “undermine the country’s financial system.”
Source: Bitcoin
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