Cryptocurrency is not legal in Liberia, with the country maintaining an implicit ban on digital assets. The International Monetary Fund identified Liberia among African nations that have directed local crypto startups to cease operations, effectively implementing an implicit ban (2). The Central Bank of Liberia has never approved any license for companies to transact financial business involving cryptocurrencies in accordance with Section 3 (1) of the New Financial Institutions Act of Liberia (1).
In May 2021, the Central Bank issued a public notice against The Abundance Community Coin (TACC), a local cryptocurrency company planning to launch operations in the country (1). The Bank clarified that at no time has it approved any license for the company to transact any financial business in Liberia (1). The Central Bank views attempts to introduce digital financial products without adherence to required regulation as not only illegal but also intended to undermine the country's financial system (1).
"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."
The Central Bank directed TACC to immediately halt all publicity on the launch of cryptocurrency products and desist from carrying out any financial activity, warning of legal recourse for non-compliance (1). Africa has become one of the fastest-growing crypto markets globally, with transactions peaking at $20 billion per month in mid-2021 (2). However, policymakers worry that cryptocurrencies can be used to transfer funds illegally and circumvent local rules preventing capital outflows (2). The Central Bank reassures the public about safeguarding the financial system against actions counterproductive to its operation (1).
Source:
https://bitcoinke.io/2021/05/central-bank-of-liberia-issues-crypto-warning/
https://www.imf.org/en/Blogs/Articles/2022/11/22/africas-growing-crypto-market-needs-better-regulations
Last updated: 19-10-2025 Disclaimer: This article does not provide legal advice. If you need legal advice, please contact an attorney directly.
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