Liberia

Retail_Trading_Status

Gray-Zone High Confidence

Status Changed

Previous status: Allowed-Unregulated

Reconciled from live analysis after human review confirmed status as Gray-Zone. Original new analysis incorrectly classified as Allowed-UnRegulated. The live analysis, supported by external validation, indicates that while some regulatory elements exist (e.g., AML/CFT laws, tax guidelines), the Central Bank of Liberia's non-recognition, warnings, and lack of a licensing framework create significant ambiguity, aligning with a Gray-Zone status rather than Allowed-UnRegulated.

Analysis ID: #859
Version: Latest
Created: 2025-12-13 07:17
Run: cf89f55f...
History: View all versions
Workflow Stage: Reconciled

Executive Summary

Liberia's regulatory stance on retail cryptocurrency trading as of December 2025 is characterized by significant ambiguity, placing it in a 'Gray-Zone' status. Although the Anti-Money Laundering, Terrorist Financing, Preventive Measures and Proceeds of Crime Act, 2021 formally defines virtual assets and requires compliance for Virtual Asset Service Providers (VASPs), and the Tax Amendment Act of December 2024 incorporates the Crypto-Asset Reporting Framework (CARF) for taxation, the Central Bank of Liberia (CBL) has not recognized cryptocurrencies as legal tender and has issued warnings against unlicensed crypto activities. The absence of a clear, permissive regulatory framework and the CBL's enforcement actions against unauthorized businesses contribute to this uncertainty, despite progress in AML/CFT and tax guidelines. Retail trading is not explicitly banned, but operates without specific legal protection or a supportive licensing regime.

Key Pillars

Central Bank Caution and Non-Recognition: The Central Bank of Liberia (CBL) does not recognize cryptocurrencies as legal tender, has not approved licenses for crypto businesses, and has issued public warnings about risks, viewing unauthorized activities as illegal under the New Financial Institutions Act.
Absence of Specific Crypto Legislation: As of December 2025, Liberia lacks comprehensive regulations specifically for cryptocurrencies, creating a regulatory gap.
AML/CFT Compliance Expectations: The AML/CFT Act 2021 designates Virtual Asset Service Providers (VASPs) as reporting entities, requiring them to register with the Financial Intelligence Agency (FIA) and adhere to anti-money laundering and counter-terrorism financing measures.
Taxation Guidelines: The Liberian Revenue Authority (LRA) classifies cryptocurrencies as intangible assets for tax purposes, with gains subject to capital gains tax and mining income as business income, and the Tax Amendment Act 2024 enables the implementation of the Crypto-Asset Reporting Framework (CARF).

Landmark Laws

New Financial Institutions Act of Liberia (Section 3 (1) cited by CBL): Authority: Central Bank of Liberia (CBL). Date: Cited 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.
Income Tax Act of 2000 (and LRA Guidelines): Authority: Liberian Revenue Authority (LRA). Date: The Act governs taxation, with LRA guidelines referenced in March 2024. Summary: Establishes that gains from cryptocurrencies are subject to capital gains tax (25%) and mining income as business income (15% to 35%).
Anti-Money Laundering, Terrorist Financing, Preventive Measures, and Proceeds of Crime Act, 2021: Authority: Financial Intelligence Agency of Liberia (FIA) and Central Bank of Liberia (CBL). Date: Approved July 29, 2022, published August 12, 2022. Summary: Defines 'virtual assets' and 'virtual asset service providers', requiring reporting entities to implement risk-based AML/CFT measures.
Tax Amendment Act of December 2024 (Amending the Liberia Consolidated Revenue Code): Authority: Liberian Revenue Authority (LRA). Date: Enacted December 17, 2024. Summary: Empowers the Minister to require information collection for the implementation of the Crypto-Asset Reporting Framework (CARF), signaling formal tax recognition of crypto assets.
CBL Warning on Unlicensed Digital Financial Products (Press Release): Authority: Central Bank of Liberia. Date: May 14, 2021. Summary: The CBL warned against 'The Abundance Community Coin' (TACC), stating it had not licensed the entity and that transacting with unlicensed financial institutions is illegal.

Considerations

Asset Classification: Cryptocurrencies are classified as intangible assets by the Liberian Revenue Authority (LRA) for tax purposes.
Taxation: Gains from buying and selling cryptocurrencies are subject to a 25% capital gains tax, while income from mining is treated as business income with progressive rates. The Tax Amendment Act 2024 introduces provisions for the Crypto-Asset Reporting Framework (CARF), applicable from January 1, 2025.
Consumer Protection: No explicit consumer safeguards exist for crypto investments, aligning with the general cautious stance.
AML/KYC Emphasis: Entities operating in the crypto space must follow AML and KYC practices, as mandated by the AML/CFT Act 2021.
No Licensed Exchanges: The CBL has not established a prudential licensing regime for crypto exchanges, forcing reliance on offshore platforms or P2P markets.
Banking Access: Local banks are hesitant to process crypto-related transfers due to CBL's warnings against unlicensed financial institutions.
AML Compliance: VASPs are required to comply with AML/CFT laws, even without a full CBL license.

Notes

Central Bank Digital Currency (CBDC) Exploration: The Central Bank of Liberia is actively exploring the development of a CBDC to enhance financial inclusion, indicating a willingness to embrace digital finance within a controlled environment.
Cautious Approach to Innovation: Liberia is taking a cautious approach to cryptocurrencies, with minimal regulatory progress and an implicit ban on local crypto business activity.
Enforcement Actions: The CBL has taken enforcement actions, such as warning and directing 'The Abundance Community Coin' (TACC) to halt operations in 2021.
Regulatory Discrepancy: There is a discrepancy between the AML/Tax laws, which recognize crypto, and the CBL's lack of a licensing framework, creating a unique environment where trading is not explicitly banned but operates in a gray area.

Remaining Uncertainties

Will the Central Bank of Liberia issue a specific prudential regulation or license for crypto exchanges in the near future?
How strictly will the Crypto-Asset Reporting Framework (CARF) be enforced on individual traders?
Does the CBL currently allow commercial banks to hold accounts for VASPs registered with the FIA?

Detailed Explanation

As of December 2025, Liberia's regulatory stance on retail cryptocurrency trading is classified as a 'Gray-Zone', characterized by significant ambiguity and a lack of clear, permissive rules. The Central Bank of Liberia (CBL) has not recognized cryptocurrencies as legal tender and has not approved any licenses for crypto businesses. In a landmark enforcement action, the CBL invoked the New Financial Institutions Act in a May 15, 2021 public notice to warn a local company, The Abundance Community Coin (TACC), to cease its unlicensed digital asset promotions, deeming such activities illegal. This cautious stance is further evidenced by a CBL press release from May 14, 2021, warning the public against transacting with unlicensed financial institutions. Consequently, while retail trading is not explicitly banned, it operates without specific legal protection and faces significant hurdles, including banking access restrictions due to the CBL's warnings. The absence of a comprehensive licensing regime for crypto exchanges forces traders to rely on offshore platforms or peer-to-peer markets.

Despite the central bank's restrictive posture, other regulatory bodies have begun to formally acknowledge the existence of crypto assets, creating a regulatory discrepancy. The Anti-Money Laundering, Terrorist Financing, Preventive Measures and Proceeds of Crime Act, 2021, approved on July 29, 2022, formally defines 'virtual assets' and 'virtual asset service providers' (VASPs), designating them as reporting entities that must register with the Financial Intelligence Agency (FIA) and implement risk-based AML/CFT measures. On the taxation front, the Liberian Revenue Authority (LRA) classifies cryptocurrencies as intangible assets. Gains from buying and selling are subject to a 25% capital gains tax under the Income Tax Act of 2000, while mining income is treated as business income. A significant recent development is the enactment of the Tax Amendment Act on December 17, 2024, which amends the Liberia Consolidated Revenue Code to empower the Minister to require information collection for implementing the Crypto-Asset Reporting Framework (CARF), applicable from January 1, 2025.

This environment results in a unique gray area where trading is not explicitly outlawed but operates under the shadow of the CBL's non-recognition and enforcement actions against unauthorized business activity. The lack of explicit consumer protection for crypto investments aligns with the general cautious approach. However, the progress in AML/CFT and tax guidelines, including the CARF implementation, indicates a formal recognition of crypto assets for specific regulatory purposes. A notable forward-looking initiative is the Central Bank of Liberia's active exploration of a Central Bank Digital Currency (CBDC), signaling a willingness to embrace digital finance within a controlled, state-sanctioned framework, which contrasts with its current stance on decentralized cryptocurrencies.

Summary Points

I. Regulatory Status
* Gray-Zone status as of December 2025.
* Significant regulatory ambiguity; retail trading is not explicitly banned but operates without specific legal protection or a supportive licensing regime.
* The Central Bank of Liberia (CBL) does not recognize cryptocurrencies as legal tender and has issued warnings against unlicensed activities.
* A regulatory discrepancy exists between AML/tax laws that recognize crypto and the CBL's lack of a licensing framework.

II. Key Regulatory Bodies
* Central Bank of Liberia (CBL): The primary authority maintaining a cautious stance; does not license crypto businesses, issues public warnings, and has taken enforcement actions.
* Financial Intelligence Agency of Liberia (FIA): Oversees AML/CFT compliance for Virtual Asset Service Providers (VASPs) as mandated by the 2021 Act.
* Liberian Revenue Authority (LRA): Responsible for tax classification and collection on crypto assets, implementing guidelines and the Crypto-Asset Reporting Framework (CARF).

III. Important Legislation
* New Financial Institutions Act of Liberia (Section 3 (1)): Cited by the CBL in a public notice dated May 15, 2021, to warn and direct 'The Abundance Community Coin' (TACC) to cease unapproved financial business.
* Anti-Money Laundering, Terrorist Financing, Preventive Measures, and Proceeds of Crime Act, 2021: Approved July 29, 2022. Formally defines 'virtual assets' and 'virtual asset service providers' (VASPs) and requires them to register with the FIA and implement AML/CFT measures.
* Income Tax Act of 2000 (and LRA Guidelines): Governs taxation; LRA guidelines (referenced March 2024) establish crypto as intangible assets subject to capital gains tax (25%) and mining as business income.
* Tax Amendment Act of December 2024: Enacted December 17, 2024. Amends the Liberia Consolidated Revenue Code to empower the Minister to require information collection for implementing the Crypto-Asset Reporting Framework (CARF), applicable from January 1, 2025.
* CBL Warning on Unlicensed Digital Financial Products (Press Release): Dated May 14, 2021. The CBL publicly warned against 'The Abundance Community Coin' (TACC), stating transacting with unlicensed financial institutions is illegal.

IV. Compliance Requirements
* AML/CFT for VASPs: Entities qualifying as Virtual Asset Service Providers must register with the FIA and adhere to risk-based anti-money laundering and counter-terrorism financing measures.
* Taxation: Gains from cryptocurrency trading are subject to capital gains tax at 25%. Income from mining is treated as business income with progressive rates (15% to 35%). Reporting under the CARF is enabled by the 2024 Tax Amendment Act.
* Asset Classification: For tax purposes, cryptocurrencies are classified as intangible assets by the LRA.

V. Notable Restrictions or Limitations
* No licensed exchanges: The CBL has not established a prudential licensing regime for cryptocurrency exchanges.
* Banking access restrictions: Local banks are hesitant to process crypto-related transfers due to the CBL's warnings against unlicensed financial institutions.
* Lack of consumer protection: No explicit consumer safeguards exist for crypto investments.
* Enforcement actions: The CBL has taken action against unauthorized businesses, as seen with the warning to TACC in 2021.

VI. Recent Developments or Notes
* CBDC Exploration: The Central Bank of Liberia is actively exploring the development of a CBDC to enhance financial inclusion.
* Cautious Approach: Liberia is taking a cautious approach to cryptocurrencies, with minimal regulatory progress and an implicit ban on local crypto business activity enforced by the CBL.
* Regulatory Discrepancy: The environment is defined by the tension between formal recognition in AML and tax law versus the CBL's restrictive licensing and enforcement posture.

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). The CBL has not recognized cryptocurrencies as legal tender and has issued warnings about the risks associated with digital currencies. In May 2021, the CBL publicly warned against the launch of a cryptocurrency by 'The Abundance Community Coin (TACC)', stating that it had not approved any license for the company and viewed the activity as illegal under the New Financial Institutions Act. This incident demonstrates the CBL's willingness to intervene against unregulated crypto businesses.

Despite this, the Anti-Money Laundering, Terrorist Financing, Preventive Measures, and Proceeds of Crime Act, 2021, defines virtual assets and requires Virtual Asset Service Providers (VASPs) to comply with AML/CFT regulations, registering with the Financial Intelligence Agency (FIA). This indicates a level of legal recognition for crypto activities. Additionally, the Tax Amendment Act of December 2024 incorporates the Crypto-Asset Reporting Framework (CARF), enabling the collection of information for tax purposes, which further acknowledges the existence of crypto assets.

However, the CBL has not established a prudential licensing regime for crypto exchanges, and no local exchanges are licensed, forcing traders to use offshore platforms or peer-to-peer markets. The CBL's cautious stance has made local banks hesitant to process crypto-related transfers, adding to the operational challenges. The Liberian Revenue Authority (LRA) classifies cryptocurrencies as intangible assets for tax purposes, with gains subject to capital gains tax and mining income as business income. This taxation framework, along with the CARF provisions, suggests that while crypto trading is not explicitly prohibited, it operates in an uncertain legal landscape.

Overall, retail cryptocurrency trading in Liberia is not explicitly illegal, but the lack of clear regulations, combined with the CBL's warnings and enforcement actions, creates a gray-zone where individuals can engage in trading but without specific legal safeguards or a supportive framework.

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."
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."
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."
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."
Anti-Money Laundering, Terrorist Financing, Preventive Measures and Proceeds of Crime Act 2021: "Reporting entities in the AML/CFT regime are... Financial Technologies (FinTech)... Virtual Assets Service Providers (VASPs)."
GIABA Mutual Evaluation Report Liberia 2023: "Liberia has not implemented particular regulations regarding cryptocurrencies... minimal regulatory progress."

4. Direct, Accessible URL Links to Sources:

WTS Global: https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQEupkTATYxsBBhqdhtsTS71hSvBFq2M3juDOblwwp1HhIjpDnDKfxojgLN9NrwbB3xspPqOQSJTw0phdTHjtQGuj4MkaWyqroeykW77itqs5bph5yJvxG0A-SDMNhF9YCUo7fpys3p0OW_ZaKtHm6onQsnHEhJGFNncZI80v9cAkwPwWqzXQX21iGGBu-x9r0oR6TI10y6ufF5tyWg98Rm2vg==
UEEx Technology: https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQFc9muW0ObqQznXNznnGxl8kj9B3UkLeJnckZwn_MKvf667e3hTwUJid3nUj7yTsVp-oRMnZVHDPO8t9nnEae1EarLMrGXOUsXsvj_tmZb9RPr0jZhfIjqmFGZM5SCX1gB-VEWSk3MDl037zihsymo8gV7BEsmh
UPay Blog: https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQHh91BwgqrAulPKcLzdamSE6Z2f24nub1l2oBqdtOQvACHfEjOs9oNGGOSHAhtMOODROrOdnLS_53WXAwocILe6DVBww5XZFz32lrSi-efLtwLIMem8F7OzdJCfL7Y94u9p60z_43A8dIk=
REGTECH AFRICA: 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=
IMF: https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQG-tuc8nfpMrirMv-ZYDufI_7eToH7lwYJL4FdokGVdtBhwckIqy7bNhIzXmtG6Y3ycup0r2X3s4x5_6ZhrvJKXFk0E7scD6Hf871zdeNF_bVruhsMYv92b8l9iUlWax-KczlNKQR3KPVlIAA79rq0cl6p1DXnnwDiiwtOotS3HM67SrjosKXYnPuYZPQ1yM9FZGmdalYhCC8zEgf8b_9Cj3g==
Tax Amendment Act: https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQHGvTVxwYdgS-2YvcaQ5nasfUVACW1GZ8PVqoA_6Xbs3ROWJdYyOrWwUWkjbv7GBWouiFLXqajy4OF95ozteqsXixpk_yOQWBzWJJE5Nb3lVckNOvDxV4Z0D0srHjdJQQtrD-ZBcYx56T9S6AJ8php0WuzZAYxmTp1lvSLPE9Tn6p6cnDewuLkCaWrrp6nqIgNhEfgWEaMEmX590GVPHRkRh_yZF6CQ8SQHFgyCc9kxisXwq6l5oh55B_iiRS41g2HDbnfu9IQrlkrh9yKxn60J6g==
Heavnn University: https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQGuU_u3GkNvzYTRL4LdA2q8TQybLAHARZOap5iY6ZtSTEf4GWvUkSsmxPPVDeDZaMZnP-KSgvgx3Zf4nMZtUZf3L0RwB3orByWymZRi71GZlaUajYR4CfW-xDy2o0G29pnhLHuN9MWU34Xv11fJvAqBbLT7K1T-6Q==
CBL Annual Report: https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQErzCP4zUaYNdKyjF5jCm8aNxsOwMywu794IcFU1J9uOF2B4VrfBGB5s3LZrinIWE2hUfVIu6AK5nOnPBw-dnuo6Kl3bc2Q5c8hzxBb-KC62V180Er0o1FahqABIy2IExyCS593mXnqzvEdz7XiK8zwRy_q3HHOIHSfxwDO3huJDOSuMA==
AML/CFT Act 2021: https://fialiberia.gov.lr/aml-cft-laws/
GIABA Report: https://www.fatf-gafi.org/en/publications/Mutualevaluations/Mer-liberia-2023.html
Bitcoin.com article: https://news.bitcoin.com/liberian-central-bank-asks-local-crypto-startup-to-drop-its-plan-to-launch-a-digital-asset/
GIABA Warns article: https://hard-facts-media.com

**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). The CBL has not recognized cryptocurrencies as legal tender and has issued warnings about the risks associated with digital currencies. In May 2021, the CBL publicly warned against the launch of a cryptocurrency by 'The Abundance Community Coin (TACC)', stating that it had not approved any license for the company and viewed the activity as illegal under the New Financial Institutions Act. This incident demonstrates the CBL's willingness to intervene against unregulated crypto businesses.

Despite this, the Anti-Money Laundering, Terrorist Financing, Preventive Measures, and Proceeds of Crime Act, 2021, defines virtual assets and requires Virtual Asset Service Providers (VASPs) to comply with AML/CFT regulations, registering with the Financial Intelligence Agency (FIA). This indicates a level of legal recognition for crypto activities. Additionally, the Tax Amendment Act of December 2024 incorporates the Crypto-Asset Reporting Framework (CARF), enabling the collection of information for tax purposes, which further acknowledges the existence of crypto assets.

However, the CBL has not established a prudential licensing regime for crypto exchanges, and no local exchanges are licensed, forcing traders to use offshore platforms or peer-to-peer markets. The CBL's cautious stance has made local banks hesitant to process crypto-related transfers, adding to the operational challenges. The Liberian Revenue Authority (LRA) classifies cryptocurrencies as intangible assets for tax purposes, with gains subject to capital gains tax and mining income as business income. This taxation framework, along with the CARF provisions, suggests that while crypto trading is not explicitly prohibited, it operates in an uncertain legal landscape.

Overall, retail cryptocurrency trading in Liberia is not explicitly illegal, but the lack of clear regulations, combined with the CBL's warnings and enforcement actions, creates a gray-zone where individuals can engage in trading but without specific legal safeguards or a supportive framework.

**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."
*   **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."
*   **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."
*   **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."
*   **Anti-Money Laundering, Terrorist Financing, Preventive Measures and Proceeds of Crime Act 2021:** "Reporting entities in the AML/CFT regime are... Financial Technologies (FinTech)... Virtual Assets Service Providers (VASPs)."
*   **GIABA Mutual Evaluation Report Liberia 2023:** "Liberia has not implemented particular regulations regarding cryptocurrencies... minimal regulatory progress."

**4. Direct, Accessible URL Links to Sources:**

*   WTS Global: https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQEupkTATYxsBBhqdhtsTS71hSvBFq2M3juDOblwwp1HhIjpDnDKfxojgLN9NrwbB3xspPqOQSJTw0phdTHjtQGuj4MkaWyqroeykW77itqs5bph5yJvxG0A-SDMNhF9YCUo7fpys3p0OW_ZaKtHm6onQsnHEhJGFNncZI80v9cAkwPwWqzXQX21iGGBu-x9r0oR6TI10y6ufF5tyWg98Rm2vg==
*   UEEx Technology: https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQFc9muW0ObqQznXNznnGxl8kj9B3UkLeJnckZwn_MKvf667e3hTwUJid3nUj7yTsVp-oRMnZVHDPO8t9nnEae1EarLMrGXOUsXsvj_tmZb9RPr0jZhfIjqmFGZM5SCX1gB-VEWSk3MDl037zihsymo8gV7BEsmh
*   UPay Blog: https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQHh91BwgqrAulPKcLzdamSE6Z2f24nub1l2oBqdtOQvACHfEjOs9oNGGOSHAhtMOODROrOdnLS_53WXAwocILe6DVBww5XZFz32lrSi-efLtwLIMem8F7OzdJCfL7Y94u9p60z_43A8dIk=
*   REGTECH AFRICA: 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=
*   IMF: https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQG-tuc8nfpMrirMv-ZYDufI_7eToH7lwYJL4FdokGVdtBhwckIqy7bNhIzXmtG6Y3ycup0r2X3s4x5_6ZhrvJKXFk0E7scD6Hf871zdeNF_bVruhsMYv92b8l9iUlWax-KczlNKQR3KPVlIAA79rq0cl6p1DXnnwDiiwtOotS3HM67SrjosKXYnPuYZPQ1yM9FZGmdalYhCC8zEgf8b_9Cj3g==
*   Tax Amendment Act: https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQHGvTVxwYdgS-2YvcaQ5nasfUVACW1GZ8PVqoA_6Xbs3ROWJdYyOrWwUWkjbv7GBWouiFLXqajy4OF95ozteqsXixpk_yOQWBzWJJE5Nb3lVckNOvDxV4Z0D0srHjdJQQtrD-ZBcYx56T9S6AJ8php0WuzZAYxmTp1lvSLPE9Tn6p6cnDewuLkCaWrrp6nqIgNhEfgWEaMEmX590GVPHRkRh_yZF6CQ8SQHFgyCc9kxisXwq6l5oh55B_iiRS41g2HDbnfu9IQrlkrh9yKxn60J6g==
*   Heavnn University: https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQGuU_u3GkNvzYTRL4LdA2q8TQybLAHARZOap5iY6ZtSTEf4GWvUkSsmxPPVDeDZaMZnP-KSgvgx3Zf4nMZtUZf3L0RwB3orByWymZRi71GZlaUajYR4CfW-xDy2o0G29pnhLHuN9MWU34Xv11fJvAqBbLT7K1T-6Q==
*   CBL Annual Report: https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQErzCP4zUaYNdKyjF5jCm8aNxsOwMywu794IcFU1J9uOF2B4VrfBGB5s3LZrinIWE2hUfVIu6AK5nOnPBw-dnuo6Kl3bc2Q5c8hzxBb-KC62V180Er0o1FahqABIy2IExyCS593mXnqzvEdz7XiK8zwRy_q3HHOIHSfxwDO3huJDOSuMA==
*   AML/CFT Act 2021: https://fialiberia.gov.lr/aml-cft-laws/
*   GIABA Report: https://www.fatf-gafi.org/en/publications/Mutualevaluations/Mer-liberia-2023.html
*   Bitcoin.com article: https://news.bitcoin.com/liberian-central-bank-asks-local-crypto-startup-to-drop-its-plan-to-launch-a-digital-asset/
*   GIABA Warns article: https://hard-facts-media.com

Source Evidence

Primary and secondary sources cited in this analysis

WTS Global (Exchange Control Insights - Liberia) secondary

2025-04-07

"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 (Best Crypto Exchange in Liberia 2025) secondary

2025-04-30

"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 (Crypto Adoption Around the World: Liberia) secondary

2024-12-09

"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."

REGTECH AFRICA (Liberia: CBL Warns Against Crypto Currency) secondary

2025-03-06

"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."

International Monetary Fund (IMF) (Africa’s Growing Crypto Market Needs Better Regulations) secondary

2022-11-22

"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) primary

2024-12-17

"The Minister may, by regulation, require and provide procedures for collection of information for the implementation of the Crypto-Asset Reporting Framework."

Heavnn University (Cryptocurrency Taxes in Liberia) secondary

2024-03-29

"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 primary

2022-03-30

"The Strategic Plan introduced new training areas, including, Reserves Management, Artificial Intelligence, Digital/Crypto Currencies, FinTech, Remote Working, and Insurance Supervision, etc."

Anti-Money Laundering, Terrorist Financing, Preventive Measures and Proceeds of Crime Act 2021 primary

2021-01-01

"Reporting entities in the AML/CFT regime are... Financial Technologies (FinTech)... Virtual Assets Service Providers (VASPs)."

GIABA Mutual Evaluation Report Liberia 2023 secondary

2023-08-10

"Liberia has not implemented particular regulations regarding cryptocurrencies... minimal regulatory progress."

Liberian Central Bank Asks Local Crypto Startup to Drop its Plan secondary

2021-05-14

"The CBL clarified that at no time has the Bank approved any license for the above-mentioned company to transact any financial business in Liberia."

GIABA Warns West Africa Faces Serious Exposure to Virtual Asset Risks secondary

2025-11-25

"Most West African countries still lack the legal and supervisory structures needed to prevent abuse of virtual assets."

Web Sources (2)

Sources discovered via web search grounding

Search queries used (8)

Central Bank of Liberia warning on virtual assets
Central Bank of Liberia cryptocurrency regulation status
Is bitcoin legal in Liberia
GIABA Mutual Evaluation Report Liberia 2023 virtual assets
Liberia Financial Intelligence Unit virtual asset service providers regulation
Liberia AML/CFT Act 2021 date of enactment
Liberia Revenue Authority cryptocurrency tax
Central Bank of Liberia crypto circular 2024 2025

lra.gov.lr

https://revenue.lra.gov.lr/wp-content/uploads/2025/02/TAX-AMENDMENT-ACT-OF-DECEMBER-2024-AMENDING-THE-LIBERIA-CONSOLIDATED-REVENUE-CODE-AS-AMENDED.pdf

centralbank.ie

https://www.centralbank.ie/consumer-hub/consumer-notices/consumer-warning-on-virtual-currencies

Reviews

No reviews yet

Submit Review

Your Name *

Review Type *

Challenge: Disagree with the analysis | Approval: Confirm it's correct | Refinement: Suggest improvements

Suggested Status

Suggested Confidence

Reason *

Additional Notes

Supporting Links