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Liberia

Retail_Trading_Status

Gray-Zone Unknown
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Status Changed

Previous status: Allowed-UnRegulated

The primary difference between the two analyses lies in the overall status assigned to retail cryptocurrency trading in Liberia: the previous analysis concluded with "Allowed-UnRegulated," while the new analysis determines it to be a "Gray-Zone." This change reflects a more nuanced interpretation of the existing facts, incorporating a greater emphasis on the chilling effect of Central Bank of Liberia (CBL) actions and the inherent uncertainties in the regulatory landscape, even if an outright ban is absent. Justification for the differences: 1. **Interpretation of CBL's Stance and Actions:** * The previous analysis acknowledged the CBL's warnings and the action against TACC but framed the overall situation as "Allowed-UnRegulated" because no specific law banned individual activity. It highlighted the lack of a dedicated crypto-asset regulatory framework as the primary reason for the "unregulated" part. * The new analysis gives more weight to the CBL's past intervention against TACC and the IMF's "implicit ban" characterization. It interprets these not just as isolated incidents or general warnings, but as indicators of the CBL's willingness to act decisively against crypto activities it deems problematic, thereby creating an uncertain and risky environment. This active caution and potential for intervention, even without specific crypto laws, pushes the status towards a "Gray-Zone" rather than a simple lack of regulation. 2. **Emphasis on Ambiguity and Uncertainty:** * "Allowed-UnRegulated" suggests a more passive state where the activity is permitted simply due to a regulatory vacuum. * "Gray-Zone" better captures the active tension between the absence of an explicit prohibition for individuals and the demonstrable cautionary, and at times prohibitive, stance of the financial regulator. It highlights that while individuals might not be breaking a specific law by trading, the environment is not clearly permissive, and businesses or larger-scale operations face significant uncertainty and potential regulatory headwinds. 3. **Incorporation of AML/KYC Expectations:** * The new analysis introduces information (from UEEx Technology, April 2025) suggesting the CBL "has stressed that it is necessary to follow anti-money laundering (AML) and know-your-customer (KYC) practices." While the previous report mentioned AML/KYC in the context of international exchanges and Liberia's general study of risks, the new report emphasizes this as a direct expectation from the CBL, even in the absence of a specific crypto regulatory framework. This expectation of compliance without clear guidelines for VASPs contributes to the "Gray-Zone" characterization – there are expectations, but no clear rules of engagement or licensing. 4. **Nuance in Tax Framework Interpretation:** * Both analyses note the Tax Amendment Act regarding CARF and the LRA's classification of crypto as intangible assets. The previous analysis saw this as an implicit recognition of their existence and transactional nature, supporting the "allowed" aspect. * The new analysis, while acknowledging these tax developments, frames them within the broader "Gray-Zone." The move towards taxation and reporting can be seen as a pragmatic step by authorities to address an existing phenomenon and ensure tax compliance, rather than a definitive statement on the full legal or regulatory acceptance of crypto trading. It acknowledges the activity for tax purposes but doesn't necessarily clarify the regulatory standing for financial oversight. 5. **Influence of More Recent Source Interpretations:** * The new analysis incorporates slightly more recent source commentary from early-mid 2025 (WTS Global, UEEx Technology, REGTECH AFRICA). For instance, WTS Global (April 2025) states Liberia is "taking a cautious approach... with minimal regulatory progress," and UEEx Technology (April 2025) describes the stance as "prudent but progressive" with a focus on AML/KYC while specific regulations are still developing. These newer interpretations reinforce the idea of an evolving, uncertain, and cautiously managed environment rather than a passively unregulated one. The UPay Blog source, also used in the previous analysis, is cited in the new analysis for its direct mention of an "implicit ban" alongside growing interest, highlighting the contradictory signals that define a gray zone. 6. **CBL's Internal Development:** * The new analysis includes information from the CBL's 2021 Annual Report about internal training on "Digital/Crypto Currencies, FinTech." While this shows the CBL is not ignorant of the sector, it also suggests an internal preparation phase, which aligns with an environment that is not yet clearly regulated or fully open, fitting the "Gray-Zone" description. In summary, the shift from "Allowed-UnRegulated" to "Gray-Zone" is justified by a deeper appreciation of the practical implications of the CBL's cautionary stance and past enforcement actions, which create an environment of uncertainty despite the lack of an explicit ban. The "Gray-Zone" status better reflects the complex interplay of no outright prohibition for individuals, active regulatory caution and intervention, emerging tax frameworks, and the ongoing, but not yet formalized, development of a comprehensive regulatory approach. It suggests that while individuals may participate, they do so in a space with unclear boundaries and potential, albeit undefined, risks from a regulatory perspective.

Analysis ID
#542
Version
Latest
Created
2025-06-26 13:21
Workflow Stage
Live

Executive Summary

Liberia's regulatory stance on retail cryptocurrency trading as of June 2025 is characterized by significant ambiguity, placing it in a "Gray-Zone" status. Although there is no explicit, comprehensive ban on individual retail trading, the Central Bank of Liberia (CBL) has not recognized cryptocurrencies as legal tender and has taken a cautious approach, issuing warnings to the public about the risks associated with digital currencies and actively pursuing enforcement actions against unauthorized crypto businesses. The absence of a clear, permissive regulatory framework contributes to this uncertainty, despite some progress in anti-money laundering (AML) and know-your-customer (KYC) compliance expectations for entities operating within the crypto space. The Liberian Revenue Authority (LRA) has also issued guidelines for the taxation of cryptocurrencies, classifying them as intangible assets.

Key Pillars

  • Central Bank Caution and Non-Recognition: The Central Bank of Liberia (CBL) explicitly states that it has not approved any licenses for companies to transact financial business using cryptocurrencies and views unauthorized digital financial products as illegal, potentially undermining the country's financial system. It has cautioned investors about the dangers linked to digital currencies.

  • Absence of Specific Crypto Legislation: As of June 2025, Liberia has not implemented particular regulations specifically addressing cryptocurrencies. The regulatory environment lacks a comprehensive framework to govern their usage.

  • AML/CFT Compliance Expectations: While comprehensive crypto-specific regulations are still developing, the Central Bank of Liberia emphasizes adherence to existing anti-money laundering (AML) and know-your-customer (KYC) practices to mitigate illicit operations in the crypto market. The "Anti-Money Laundering and Countering Financing of Terrorism Act, 2021" repealed and replaced the 2012 Act, and includes provisions related to virtual assets, such as requiring reporting entities to employ a risk-based approach to managing money laundering and terrorism financing risks.

  • Taxation Guidelines: The Liberian Revenue Authority (LRA) has issued guidelines for the taxation of cryptocurrencies, classifying them as intangible assets for tax purposes.

Landmark Laws

New Financial Institutions Act of Liberia (Specific Section 3 (1) cited by CBL)
- Authority: Central Bank of Liberia (CBL)
- Date: The specific date of the "New Financial Institutions Act of Liberia" is not detailed in the provided snippets, but the CBL cited Section 3 (1) in a public notice dated May 15, 2021.
- Summary: The CBL invoked this Act to warn a local company, The Abundance Community Coin (TACC), to cease promoting its digital asset product because it had not been approved to transact any financial business, deeming it illegal and potentially undermining the financial system. This demonstrates the CBL's authority over financial institutions and its stance on unregulated digital financial products.

Income Tax Act of 2000 (and LRA Guidelines)
- Authority: Liberian Revenue Authority (LRA)
- Date: The Income Tax Act of 2000 governs taxation. The LRA has issued guidelines providing clarification on cryptocurrency taxation, though the specific issuance date of these guidelines is not provided, they were referenced in a March 29, 2024, context.
- Summary: This Act, supplemented by LRA guidelines, establishes that gains or losses from buying and selling cryptocurrencies are subject to capital gains tax (25%), and income from mining cryptocurrencies is treated as business income subject to progressive income tax rates (15% to 35%). Cryptocurrencies are classified as intangible assets for tax purposes.

Anti-Money Laundering, Terrorist Financing, Preventive Measures, and Proceeds of Crime Act, 2021 (AML/CFT Act, 2021)
- Authority: Financial Intelligence Agency of Liberia (FIA) and Central Bank of Liberia (CBL)
- Date: Approved July 29, 2022, and published August 12, 2022. It repealed and replaced the "Anti-Money Laundering and Terrorist Financing Act, 2012".
- Summary: This Act is crucial for combating illicit financial activities, including those potentially involving virtual assets. It defines "virtual asset" in the context of financial services and transfers, and requires reporting entities to implement risk-based approaches to manage money laundering and terrorism financing risks. The CBL, while not licensing Virtual Asset Service Providers (VASPs), acknowledges the potential ML/TF risks from VAs and VASPs and plans to establish an appropriate regulatory framework.

Considerations

  • Asset Classification: The Liberian Revenue Authority (LRA) classifies cryptocurrencies as intangible assets for tax purposes.

  • Taxation: Gains or losses from buying and selling cryptocurrencies are subject to a Capital Gains Tax of 25%. Income derived from mining cryptocurrencies is treated as business income and is subject to progressive income tax rates ranging from 15% to 35%. The Income Tax Act of 2000 governs this, and the LRA has issued guidelines for clarification. A December 2024 tax amendment act also mentions requiring procedures for collecting information for the implementation of a "Crypto-Asset Reporting Framework" pursuant to international treaties, applicable for tax years beginning on or after January 1, 2025.

  • Consumer Protection: The regulatory environment does not provide explicit consumer-specific safeguards for crypto investments, aligning with the general cautious stance.

  • AML/KYC Emphasis for Businesses: While the government has yet to fully regulate cryptocurrencies, the Central Bank of Liberia emphasizes that entities operating in the crypto space must follow anti-money laundering (AML) and know-your-customer (KYC) practices to prevent illicit operations.

Notes

  • Central Bank Digital Currency (CBDC) Exploration: The Central Bank of Liberia is actively exploring the development of a Central Bank Digital Currency (CBDC) to enhance financial inclusion and manage a rapidly changing financial system. This indicates a willingness to embrace digital finance within a controlled environment, contrasting with their cautious stance on decentralized cryptocurrencies. Gluwa, a blockchain solutions platform, has met with the Liberian President Joseph Boakai to discuss developing a CBDC and enhancing internet connectivity.

  • Cautious Approach to Innovation: Liberia is generally taking a cautious approach to cryptocurrencies, with minimal regulatory progress in terms of permissive frameworks. The CBL's strategic plan (2025-2029) includes positioning itself to respond to the increasing trend in electronic money and CBDCs.

  • Enforcement Actions: The Central Bank of Liberia has previously taken enforcement actions, such as warning and directing "The Abundance Community Coin (TACC)" to halt all publicity and desist from carrying out any financial activity, viewing its attempt to introduce a digital product without adherence to regulations as illegal.

Detailed Explanation

Liberia's approach to retail crypto trading as of June 2025 remains in a "Gray-Zone," characterized by an overarching regulatory ambiguity rather than a clear prohibition or an established permissive framework. The core of this status stems from the position of the Central Bank of Liberia (CBL), which has consistently maintained a cautious stance on cryptocurrencies. The CBL does not recognize cryptocurrencies as legal tender and has publicly warned against their use, citing concerns that unauthorized digital asset activities could undermine the country's financial system. This cautious outlook is further evidenced by the CBL's action in May 2021, when it directed a local cryptocurrency startup, The Abundance Community Coin (TACC), to cease operations because it had not obtained the necessary licenses to conduct financial business in Liberia under Section 3 (1) of the New Financial Institutions Act of Liberia. This enforcement action highlights the regulatory body's proactive stance against unregulated crypto businesses, even in the absence of specific cryptocurrency laws.Despite the lack of a comprehensive ban on individual retail trading, the absence of clear regulations creates a significant degree of uncertainty for retail participants. Liberia has yet to implement specific legislation governing cryptocurrencies, leading to what some sources describe as an "implicit ban" or "minimal regulatory progress." However, this "implicit ban" refers more to the absence of a supportive legal framework for crypto businesses rather than a direct prohibition on individuals holding or trading crypto. The regulatory vacuum means that while individuals might engage in peer-to-peer trading or utilize international exchanges, such activities operate without specific legal protection or defined oversight within Liberia.However, certain aspects of cryptocurrency activity are addressed. The Liberian Revenue Authority (LRA), for instance, has provided guidelines for the taxation of cryptocurrencies under the existing Income Tax Act of 2000. For tax purposes, cryptocurrencies are classified as intangible assets. This means that any capital gains realized from buying and selling cryptocurrencies are subject to a 25% capital gains tax, and income generated from cryptocurrency mining is treated as business income, falling under progressive income tax rates ranging from 15% to 35%. Furthermore, a tax amendment act in December 2024 indicated that starting January 1, 2025, Liberia might require the collection of information for a "Crypto-Asset Reporting Framework" in line with international treaties.Another crucial regulatory aspect, particularly for any crypto-related businesses, is the emphasis on Anti-Money Laundering (AML) and Know Your Customer (KYC) compliance. Although specific crypto regulations are still being developed, the Central Bank of Liberia stresses the importance of adhering to existing AML/KYC practices to prevent illicit financial activities within the crypto market. The "Anti-Money Laundering, Terrorist Financing, Preventive Measures, and Proceeds of Crime Act, 2021," which came into effect in August 2022, includes provisions relevant to virtual assets and mandates that reporting entities adopt a risk-based approach to mitigate money laundering and terrorism financing risks. This indicates a recognition of the risks associated with virtual assets, even as a dedicated regulatory framework for them is still being considered.Looking ahead, Liberia is actively exploring the development of a Central Bank Digital Currency (CBDC), with companies like Gluwa engaging with the Liberian government to discuss potential initiatives. This pursuit of a CBDC by the Central Bank of Liberia signifies a willingness to embrace digital financial innovation within a controlled and centralized environment, distinct from the decentralized nature of cryptocurrencies. This dual approach—caution regarding private cryptocurrencies while exploring a state-backed digital currency—further contributes to the "Gray-Zone" status, as it implies a preference for a supervised digital financial ecosystem over an unregulated one. The overall environment suggests that while retail trading is not explicitly banned, it operates within an uncertain legal landscape, characterized by official warnings, a lack of clear permissive laws, and a focus on financial stability and anti-money laundering measures.

Summary Points

Here's the detailed regulatory analysis report on Retail Crypto Trading in Liberia converted into a clear, well-structured bullet point format:

## Retail Crypto Trading in Liberia: Regulatory Analysis (June 2025)

### 1. Overall Regulatory Status

  • "Gray-Zone" Classification: Liberia's retail crypto trading environment is characterized by significant regulatory ambiguity, placing it in a "Gray-Zone" status.
  • No Explicit Ban: There is no explicit, comprehensive ban on individual retail trading.
  • CBL Non-Recognition: The Central Bank of Liberia (CBL) does not recognize cryptocurrencies as legal tender.
  • Lack of Permissive Framework: Absence of a clear, supportive regulatory framework for crypto businesses.
  • Uncertainty for Retail: Individual trading operates without specific legal protection or defined oversight within Liberia.

### 2. Key Regulatory Bodies & Their Roles

  • Central Bank of Liberia (CBL):
  • Stance: Views unauthorized crypto businesses as undermining the financial system; has not approved licenses for any company to transact financial business using cryptocurrencies.
  • Warnings: Issues public warnings about the risks associated with digital currencies.
  • Enforcement: Actively pursues enforcement actions against unauthorized crypto businesses (e.g., directed "The Abundance Community Coin" (TACC) to cease operations in May 2021).
  • AML/KYC: Emphasizes adherence to existing Anti-Money Laundering (AML) and Know-Your-Customer (KYC) practices for entities operating in the crypto space.
  • Future Focus: Actively exploring the development of a Central Bank Digital Currency (CBDC) and positioning itself to respond to electronic money trends (part of its 2025-2029 strategic plan).
  • Liberian Revenue Authority (LRA):
  • Taxation: Issues guidelines for the taxation of cryptocurrencies.
  • Classification: Classifies cryptocurrencies as intangible assets for tax purposes.
  • Financial Intelligence Agency of Liberia (FIA):
  • AML/CFT Oversight: Key authority for the Anti-Money Laundering and Countering Financing of Terrorism Act, 2021.

### 3. Important Legislation & Regulations

  • New Financial Institutions Act of Liberia (Specific Section 3 (1)):
  • Authority: Cited by the CBL to assert its authority over financial institutions.
  • Impact: Used to warn and direct unauthorized digital financial product providers (like TACC) to cease operations, deeming them illegal.
  • Income Tax Act of 2000 (and LRA Guidelines):
  • Authority: Governs general taxation in Liberia.
  • Impact: LRA guidelines clarify that:
  • Gains or losses from buying and selling cryptocurrencies are subject to a 25% Capital Gains Tax.
  • Income from mining cryptocurrencies is treated as business income, subject to progressive income tax rates (15% to 35%).
  • Cryptocurrencies are classified as intangible assets for tax purposes.
  • Anti-Money Laundering, Terrorist Financing, Preventive Measures, and Proceeds of Crime Act, 2021 (AML/CFT Act, 2021):
  • Date: Approved July 29, 2022; published August 12, 2022; repealed the 2012 Act.
  • Scope: Defines "virtual asset" in the context of financial services.
  • Impact: Requires reporting entities to implement a risk-based approach to manage money laundering and terrorism financing risks, including those potentially involving virtual assets.
  • December 2024 Tax Amendment Act:
  • Future Reporting: Mentions requiring procedures for collecting information for a "Crypto-Asset Reporting Framework" (CARF) pursuant to international treaties.
  • Applicability: For tax years beginning on or after January 1, 2025.

### 4. Requirements for Compliance (Primarily for Entities/Businesses)

  • Licensing: Any entity seeking to transact financial business with digital assets must obtain explicit approval and licenses from the Central Bank of Liberia.
  • AML/KYC Adherence: Strict adherence to existing Anti-Money Laundering (AML) and Know-Your-Customer (KYC) practices is emphasized by the CBL to prevent illicit operations.
  • Risk-Based Approach: Reporting entities (as defined by the AML/CFT Act, 2021) must employ a risk-based approach to mitigate money laundering and terrorism financing risks associated with virtual assets.
  • Tax Compliance:
  • Payment of Capital Gains Tax (25%) on crypto trading profits.
  • Payment of progressive income tax (15-35%) on crypto mining income.
  • Potential future compliance with the Crypto-Asset Reporting Framework (CARF) from January 2025.

### 5. Notable Restrictions & Limitations

  • Non-Legal Tender Status: Cryptocurrencies are explicitly not recognized as legal tender by the CBL.
  • No Specific Crypto Legislation: The absence of a comprehensive, permissive regulatory framework specifically for cryptocurrencies creates legal uncertainty.
  • Enforcement Against Unlicensed Operations: The CBL actively takes enforcement actions against entities promoting or transacting in digital assets without proper authorization, effectively creating an "implicit ban" on unregulated crypto businesses.
  • Limited Consumer Protection: The current regulatory environment does not provide explicit consumer-specific safeguards for crypto investments.

### 6. Recent Developments & Future Outlook

  • AML/CFT Act, 2021 Enactment: Strengthened anti-illicit finance measures, including provisions relevant to virtual assets, came into effect in August 2022.
  • Taxation Guidelines: LRA has issued guidelines for crypto taxation, referenced as recently as March 2024.
  • Future Tax Reporting (CARF): A December 2024 tax amendment indicates a move towards international crypto-asset reporting standards from January 2025.
  • Central Bank Digital Currency (CBDC) Exploration:
  • The CBL is actively exploring the development of a CBDC to enhance financial inclusion and manage the financial system.
  • Discussions have occurred with blockchain solutions platforms (e.g., Gluwa) and the Liberian government regarding CBDC development.
  • This initiative is included in the CBL's strategic plan for 2025-2029.
  • Cautious Approach to Innovation: Liberia generally maintains a cautious approach to decentralized cryptocurrencies, indicating a preference for a controlled and supervised digital financial ecosystem over an unregulated one.

Full Analysis Report

Report on the Current Status of Retail Cryptocurrency Trading in Liberia

Date: 2025-06-26

Topic: Retail_Trading_Status

Description: Assess whether individual citizens and residents in the country are legally permitted to buy, sell, and hold cryptocurrencies. Detail the regulatory environment surrounding this activity (e.g., KYC/AML requirements imposed on platforms, general warnings issued).

1. Identified Current Status:

Gray-Zone

2. Detailed Narrative Explanation:

Liberia's stance on retail cryptocurrency trading is best described as a Gray-Zone. While there isn't an explicit, outright ban on individuals buying, selling, or holding cryptocurrencies, the regulatory environment is characterized by a lack of specific, comprehensive legislation and a cautious approach from the Central Bank of Liberia (CBL).

Historically, Liberia has faced significant economic challenges, leading to a need for greater financial inclusion. Cryptocurrencies have been seen by some as a potential tool to address these challenges. However, the CBL has expressed concerns and issued warnings regarding the risks associated with digital currencies.

In May 2021, the CBL publicly warned against the launch of a cryptocurrency by an entity called 'The Abundance Community Coin (TACC)', stating that the CBL had not approved any license for the company to transact financial business in Liberia and viewed the attempt to introduce a digital financial product without adherence to regulation as illegal and intended to undermine the country's financial system. The CBL directed TACC to halt all publicity and desist from any financial activity. This incident highlights the CBL's willingness to intervene when it perceives a threat to the financial system, even in the absence of specific crypto regulations.

More broadly, the International Monetary Fund (IMF) noted in November 2022 that Liberia had "directed a local crypto startup to cease operations," categorizing this as an "implicit ban." This further underscores the uncertain operating environment for cryptocurrency-related activities.

Despite this cautious stance and past interventions, there is no overarching law that explicitly prohibits individual citizens from engaging with cryptocurrencies. Some sources indicate that while specific regulations are still being developed, the CBL has emphasized the necessity of adhering to Anti-Money Laundering (AML) and Know Your Customer (KYC) practices to prevent illicit activities in the crypto market. This suggests an awareness of crypto activities and a preference for risk mitigation rather than a complete prohibition.

Furthermore, there are indications of a growing interest in cryptocurrencies among Liberians as an investment and for integration into the financial system. Some international cryptocurrency exchanges even list Liberia as a country where their services are available, often mentioning the importance of KYC/AML compliance.

Recent developments also point towards an evolving landscape. A tax amendment act from December 2024 amending the Liberia Consolidated Revenue Code includes provisions for the Minister to require and provide procedures for the collection of information for the implementation of the Crypto-Asset Reporting Framework, pursuant to international treaties. This suggests a move towards acknowledging and potentially taxing crypto-assets, which would imply their existence and trading are not entirely forbidden. The Liberian Revenue Authority (LRA) reportedly classifies cryptocurrencies as intangible assets for tax purposes, with gains subject to capital gains tax and income from mining treated as business income.

The Central Bank of Liberia itself has shown interest in digital currencies, including exploring the potential of a Central Bank Digital Currency (CBDC). The CBL's 2021 Annual Report mentioned that its strategic plan introduced new training areas, including "Digital/Crypto Currencies, FinTech." This indicates an internal effort to understand and potentially engage with digital financial innovations.

The regulatory environment for the broader fintech sector in Liberia is still described as evolving. While the CBL has established a Digital Financial Services Working Group (DFSWG) to discuss regulatory and digital finance issues, there remains a regulatory gap, particularly concerning e-commerce and online transactions.

Therefore, "Gray-Zone" is the most fitting status. Retail trading isn't explicitly illegal for individuals, but it operates in an environment with no specific crypto-licensing regime, past central bank interventions against specific operations, and recent moves towards tax reporting, all alongside official caution and an emphasis on AML/KYC. This creates a complex and somewhat ambiguous situation for individuals and potential crypto service providers.

3. Specific, Relevant Text Excerpts:

  • WTS Global (April 7, 2025): "Liberia has not implemented particular regulations regarding cryptocurrencies. Liberia is currently taking a cautious approach to cryptocurrencies, with minimal regulatory progress. The Central Bank of Liberia (CBL) has cautioned investors regarding the dangers linked to digital currencies but has yet to create a thorough regulatory system to oversee their usage."
  • UEEx Technology (April 30, 2025): "Liberia's stance on cryptocurrency as of 2025 is prudent but progressive. The Central Bank of Liberia (CBL) has stressed that it is necessary to follow anti-money laundering (AML) and know-your-customer (KYC) practices to avoid illicit operations in the crypto market. Although specific regulations are in the process of being developed, the government's attention is drawn to tracking and comprehending the effects of digital currencies."
  • UPay Blog (December 9, 2024): "Currently, Liberia has an implicit ban on cryptocurrencies, meaning there are no specific laws regulating their use, but the Central Bank has issued warnings and discouraged their adoption." And, "Despite the Central Bank of Liberia's (CBL) cautious stance and implicit ban, there's a growing interest in cryptocurrencies".
  • REGTECH AFRICA (March 6, 2025, referencing a May 2021 CBL statement): "The CBL clarified that at no time has the Bank approved any license for the above-mentioned company [TACC] to transact ANY financial business in 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. In view of the foregoing, TACC is hereby warned and directed to immediately halt all publicity on the launch of the product and desist from carrying out any financial activity."
  • International Monetary Fund (IMF) (November 22, 2022): "Zimbabwe has ordered all banks to stop processing transactions and Liberia directed a local crypto startup to cease operations (implicit bans)."
  • Tax Amendment Act of December 2024 (amending the Liberia Consolidated Revenue Code): "(3) Pursuant to international treaties and conventions in tax matters, the Minister may, by regulation, require and provide procedures for collection of information for the implementation of the Crypto-Asset Reporting Framework; including any bilateral or multilateral Competent Authority Agreement or other agreement signed between the Government of the Republic of Liberia and the government of another country which makes provision corresponding, or materially similar to the Crypto-Asset Reporting Framework."
  • Heavnn University (March 29, 2024): "Liberia's tax regime for cryptocurrencies is still in its nascent stages, with no specific laws or regulations explicitly addressing the taxation of digital assets. However, the Liberian Revenue Authority (LRA) has issued guidelines that provide some clarity on the matter. The LRA classifies cryptocurrencies as intangible assets for tax purposes."
  • Central Bank of Liberia Annual Report 2021 (Published March 30, 2022): "The Strategic Plan introduced new training areas, including, Reserves Management, Artificial Intelligence, Digital/Crypto Currencies, FinTech, Remote Working, and Insurance Supervision, etc."

4. Direct, Accessible URL Links to Sources:

  • WTS Global (Exchange Control Insights - Liberia): https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQEupkTATYxsBBhqdhtsTS71hSvBFq2M3juDOblwwp1HhIjpDnDKfxojgLN9NrwbB3xspPqOQSJTw0phdTHjtQGuj4MkaWyqroeykW77itqs5bph5yJvxG0A-SDMNhF9YCUo7fpys3p0OW_ZaKtHm6onQsnHEhJGFNncZI80v9cAkwPwWqzXQX21iGGBu-x9r0oR6TI10y6ufF5tyWg98Rm2vg== (Specific information may require navigating the WTS Global website or accessing the referenced newsletter if the direct link becomes unavailable).
  • UEEx Technology (Best Crypto Exchange in Liberia 2025): https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQFc9muW0ObqQznXNznnGxl8kj9B3UkLeJnckZwn_MKvf667e3hTwUJid3nUj7yTsVp-oRMnZVHDPO8t9nnEae1EarLMrGXOUsXsvj_tmZb9RPr0jZhfIjqmFGZM5SCX1gB-VEWSk3MDl037zihsymo8gV7BEsmh
  • UPay Blog (Crypto Adoption Around the World: Liberia): https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQHh91BwgqrAulPKcLzdamSE6Z2f24nub1l2oBqdtOQvACHfEjOs9oNGGOSHAhtMOODROrOdnLS_53WXAwocILe6DVBww5XZFz32lrSi-efLtwLIMem8F7OzdJCfL7Y94u9p60z_43A8dIk=
  • REGTECH AFRICA (Liberia: CBL Warns Against Crypto Currency): https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQFi2dlMQaiZ9PT67qUJyHbaDwE9gWj9Nvy-tA8DGJQFXjTRNH69Mk-8v7_znIvX6FI2rDNXprDQQI8QW0SY8mXD5rX70OVv0eV92HuxKTymsxLodJO0slbbUkHl6PnEgVujGgH2GTkO-0Z3PBtUUZRBKh8JPjjVgBFBQ-PpExQW5VNDrQqVrUJCSazN1ws-MW64bcZgF9Uks99PO5_Rhx2fYLoNsxFHtkilqTACp0TyGx3LTCmAiX-7qLd2CcjCopyEcyO2yx0AOGlrwZC9EHw2OxYurxtcyNTGJvGBm_J43qADSw6DjpR4sTKcA2ZRnz1hyoVjZMlRY4TmdhDT1uYiULdGsRHw9kL3a50YwXccXBvk89A5vJwoOzg0ldMWYAFhoWE_DvoWl8Hv7ro6ZWb_vEh-G2mWokaCm3ZAP-W_o3LiRc5IXO665Hd43IVMVa3o4DOfekN9kRa_KTtM2Q-jbok=
  • Cointelegraph (Best Crypto Exchanges in Liberia): https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQHJmPLWng9rT_1B07n1sZlQn-7TyKrfsfEITPnQ3sqIHKP6VPlEJFS8VsZsfRiiPx-WZQvz3U6kcB2vYfP9tkTVmvGjXmL07aXgXUNqwaNaYBjUWYxDb_KzLWzTFD3X9mP1y9uXYMkjIUz0AZI5dXKoZIiU1cS74pKXZfFTQs4=
  • Heavnn University (Cryptocurrency Taxes in Liberia): https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQGuU_u3GkNvzYTRL4LdA2q8TQybLAHARZOap5iY6ZtSTEf4GWvUkSsmxPPVDeDZaMZnP-KSgvgx3Zf4nMZtUZf3L0RwB3orByWymZRi71GZlaUajYR4CfW-xDy2o0G29pnhLHuN9MWU34Xv11fJvAqBbLT7K1T-6Q==
  • LiberiaInsights (Liberia Fintech): https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQE2w8iTHvp2aOl3r6E6LLC8jHqWJD4nD7JNpTSWd7Om1ZYCmKonn3mrkqWFK00JFn3-Y2zNPsnXOENi0aUDrFt_-tWxPXwtsF2X9CgJo6S7ozKRaFOEboZdY-k9_9IPUDxKZW6hDZV7lW618ItV179kjMTZ6FhoxzIEIgUvFbYWiA==
  • Central Bank of Liberia (CBL Annual Report - 2021): https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQErzCP4zUaYNdKyjF5jCm8aNxsOwMywu794IcFU1J9uOF2B4VrfBGB5s3LZrinIWE2hUfVIu6AK5nOnPBw-dnuo6Kl3bc2Q5c8hzxBb-KC62V180Er0o1FahqABIy2IExyCS593mXnqzvEdz7XiK8zwRy_q3HHOIHSfxwDO3huJDOSuMA== (The direct link is to the search result; the actual report may need to be located on the CBL website if the link is not direct to the PDF).
  • International Monetary Fund (IMF) (Africa’s Growing Crypto Market Needs Better Regulations): https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQG-tuc8nfpMrirMv-ZYDufI_7eToH7lwYJL4FdokGVdtBhwckIqy7bNhIzXmtG6Y3ycup0r2X3s4x5_6ZhrvJKXFk0E7scD6Hf871zdeNF_bVruhsMYv92b8l9iUlWax-KczlNKQR3KPVlIAA79rq0cl6p1DXnnwDiiwtOotS3HM67SrjosKXYnPuYZPQ1yM9FZGmdalYhCC8zEgf8b_9Cj3g==
  • Tax Amendment Act of December 2024 (amending the Liberia Consolidated Revenue Code): https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQHGvTVxwYdgS-2YvcaQ5nasfUVACW1GZ8PVqoA_6Xbs3ROWJdYyOrWwUWkjbv7GBWouiFLXqajy4OF95ozteqsXixpk_yOQWBzWJJE5Nb3lVckNOvDxV4Z0D0srHjdJQQtrD-ZBcYx56T9S6AJ8php0WuzZAYxmTp1lvSLPE9Tn6p6cnDewuLkCaWrrp6nqIgNhEfgWEaMEmX590GVPHRkRh_yZF6CQ8SQHFgyCc9kxisXwq6l5oh55B_iiRS41g2HDbnfu9IQrlkrh9yKxn60J6g== (The direct link is to the search result; the actual legislative text may need to be located on an official Liberian government or LRA website).
  • Enhanced Integrated Framework (Liberia Rapid eTrade Readiness Assessment): https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQHSraSrQX4xzUwFHFtU6ziQN6yJIgaJnMG5Ah4ofcaITwLACWxOuvw3xZ061ryiDlAMkbRcE27jTDNE7yx3ePf80nWI_EUHEtp_GFv3kyXwHL5BY0_-xHlqeNR6--9aAa-8jLxQjTeXOtdlKN-J4bea5ME4fgNmEDw_6qOaXmtB6p96COs= (The direct link is to the search result; the actual report may need to be located on the EIF website).

Web Sources (11)

Sources discovered via web search grounding

Search queries used (6)
  • current status of retail cryptocurrency trading in Liberia
  • Liberia cryptocurrency regulation 2024 2025
  • Central Bank of Liberia cryptocurrency policy
  • Liberia AML KYC cryptocurrency requirements
  • Is cryptocurrency legal in Liberia for individuals?
  • Liberia financial regulatory framework digital assets
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