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Liberian Central Bank Asks Local Crypto Startup to Drop its Plan to Launch a Digital Asset – Regulation Bitcoin News


Liberian Central Bank Asks Local Crypto Startup to Drop its Plan to Launch a Digital Asset
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.”
The CBL’s warning follows an announcement by an organization known as The Abundance Community Coin (TACC) that plans to launch a crypto asset on May 14. According to a report, TACC claims that its token “has been created to help enrich people through the use of task coins.” ....

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Central Bank of Liberia Warns against Crypto Currency; Says It Has Not Issued Any License for Such Transaction


Central Bank of Liberia Warns against Crypto Currency; Says It Has Not Issued Any License for Such Transaction
Central Bank of Liberia Warns against Crypto Currency; Says It Has Not Issued Any License for Such Transaction
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MONROVIA – The Central Bank of Liberia’s (CBL’s) says its 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 clarified 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. ....

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