Regulatory Bodies
Regulatory body data collection in progress for Liberia. Our AI research workers are actively gathering this information.
Operating Models
0/9 verdictsCan specific business models operate in Liberia? Each card answers the operational question for one kind of operator. Curated cells reflect counsel-grade review; AI-generated cells should be confirmed before relying on them.
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Primary Legislation
Legislative framework data collection in progress for Liberia.
Licensing Requirements
Licensing requirement data collection in progress.
AML/KYC Requirements
**United Nations (UN) Security Council Sanctions:** These are universally binding on UN member states, including Liberia. UN sanctions lists target individuals, entities, and regimes involved in terrorism, proliferation of weapons of mass destruction, and other threats to international peace and security.
**Compliance Requirement for VASPs:** VASPs must screen all their customers and transactions against the UN Consolidated Sanctions List (e.g., ISIL (Da'esh) & Al-Qaida Sanctions List, DPRK Sanctions List, etc.) to identify any sanctioned parties or activities.
**Legal Reference:** UN Security Council Sanctions Committees Website: https://www.un.org/securitycouncil/sanctions/information
**U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) Sanctions:** While OFAC sanctions are primarily U.S. law, their extraterritorial reach (especially through the U.S. financial system) means that any VASP or financial institution anywhere in the world that engages in transactions involving a U.S. person, U.S. dollar, or U.S. technology must comply. Non-compliance can lead to severe penalties and loss of access to the U.S. financial system.
**Compliance Requirement for VASPs:** VASPs are expected to screen against OFAC's Specially Designated Nationals and Blocked Persons (SDN) List and other sanctions lists (e.g., Sectoral Sanctions Identifications List, Non-SDN Menu-Based Sanctions List). OFAC has also issued specific guidance on sanctions compliance for the virtual currency industry.
OFAC Sanctions List Search: https://sanctionssearch.ofac.treas.gov/
OFAC Guidance on Virtual Currency: https://home.treasury.gov/policy-issues/financial-sanctions/recent-actions/20210319_ofac_vc_guidance.pdf
OFAC FAQs on Virtual Currency: https://home.treasury.gov/policy-issues/financial-sanctions/faqs/topic/601
**European Union (EU) Sanctions:** EU sanctions are binding on persons and entities within EU jurisdiction, but like OFAC, they have a significant global impact due to the EU's economic power.
**Compliance Requirement for VASPs:** VASPs with any nexus to the EU (e.g., EU customers, transacting with EU entities) should screen against the EU Consolidated List of persons, groups, and entities subject to EU financial sanctions.
**Act of the Legislature to Amend and Restate the Act Adopting a New Anti-Money Laundering and Countering the Financing of Terrorism Act of 2012 (AML/CFT Act of 2012, as amended):** This is the primary legislation governing AML/CFT in Liberia. It establishes the legal framework for identifying, reporting, and prosecuting money laundering and terrorist financing. While it might not explicitly mention "virtual assets" or "VASPs" by name in its original form, its broad definitions of "funds," "financial institutions," and "designated non-financial businesses and professions" (DNFBPs) are often interpreted to cover virtual asset activities.
**Legal Reference:** Finding the most recent consolidated version online can be challenging. It's typically available through the Central Bank of Liberia (CBL) or the Financial Intelligence Unit (FIU) of Liberia. *A general search for "Liberia AML CFT Act 2012" will show legislative discussions and summaries if the full text is not readily available online.*
**Financial Intelligence Unit of Liberia (FIUL) Act:** This act establishes the FIUL as the central agency for receiving, analyzing, and disseminating suspicious transaction reports (STRs) and other financial intelligence.
**Legal Reference:** Often linked with the main AML/CFT Act. The FIUL website (if active) would be the best source.
**Registration/Licensing:** While specific VASP regulations in Liberia are evolving, the FATF recommendations require VASPs to be licensed or registered.
**Customer Due Diligence (CDD) & Enhanced Due Diligence (EDD):** VASPs must conduct CDD on all customers, including identifying and verifying the identity of the customer and beneficial owners. EDD is required for high-risk customers or transactions.
**Record-Keeping:** Maintain records of all transactions and customer information for a prescribed period.
**Transaction Monitoring:** Implement systems to monitor transactions for suspicious activity.
**Suspicious Transaction Reporting (STRs):** Report any suspicious transactions or activities, including those related to sanctioned entities or geographic areas, to the FIUL.
**Risk-Based Approach:** Implement a risk-based approach to AML/CFT, allocating resources proportionally to the identified risks.
**Sanctions Compliance:** Implement robust systems and controls to ensure compliance with UN, OFAC, and EU sanctions lists, including screening customers and transactions.
**Continuous Screening:** Implement ongoing screening of all customers, beneficial owners, and associated parties against up-to-date UN, OFAC, and EU sanctions lists.
**Transaction Screening:** Screen transactions (especially cross-border) for any nexus to sanctioned individuals, entities, or jurisdictions.
**Adverse Media & PEP Screening:** Conduct screening for politically exposed persons (PEPs) and adverse media to identify potential higher-risk customers.
**Wallet Address Screening:** While challenging, efforts should be made to identify and block wallet addresses known to be associated with sanctioned entities or illicit activities, where such information is available (e.g., from blockchain analytics firms).
**Sanctioned Jurisdictions:** VASPs must block or reject transactions originating from or destined for jurisdictions subject to comprehensive UN, OFAC, or EU sanctions (e.g., North Korea, Iran, parts of Russia, Syria, Cuba, etc.), unless explicitly authorized by relevant authorities.
**High-Risk Jurisdictions (FATF Lists):** VASPs should apply enhanced due diligence to transactions involving jurisdictions identified by FATF as "High-Risk Jurisdictions Subject to a Call for Action" (blacklist) or "Jurisdictions under Increased Monitoring" (greylist).
**Legal Reference:** FATF Website - High-Risk Jurisdictions: https://www.fatf-gafi.org/countries/high-risk-and-other-monitored-jurisdictions.html
**Fines:** Significant monetary penalties for individuals and corporate entities.
**Imprisonment:** Individuals involved in money laundering, terrorist financing, or sanctions evasion can face lengthy prison sentences.
**Asset Forfeiture:** Confiscation of assets involved in or derived from illicit activities.
**License Revocation:** VASPs or financial institutions may have their operating licenses revoked.
**Reputational Damage:** Significant harm to the institution's reputation, leading to loss of business and de-risking by correspondent banks.
**Secondary Sanctions Risk:** Non-compliance, especially with OFAC sanctions, can expose Liberian entities to secondary sanctions from the U.S., potentially cutting them off from the global financial system.
Travel Rule
**No, not specifically for Virtual Assets (VAs) and Virtual Asset Service Providers (VASPs).** The 2021 FATF MER explicitly states that Liberia "has not yet assessed its money laundering and terrorist financing risks relating to virtual assets and VASPs, and has not yet put in place the necessary legal or regulatory framework for VAs and VASPs as required by Recommendation 15."
This means that the specific requirements of the Travel Rule (FATF Recommendation 16) for VASPs, which mandate the collection and transmission of originator and beneficiary information, have not been adopted into Liberian law or regulation.
However, Liberia does have an AML/CTF framework for traditional financial institutions, which includes provisions similar to the Travel Rule for wire transfers (e.g., identification of originator and beneficiary for transfers above certain thresholds, or all transfers for FIs). This framework, however, does not extend to VASPs.
Since the Travel Rule for VAs/VASPs has not been adopted, there is **no specific effective date** for its implementation in Liberia.
For VASPs, **no specific threshold amounts** are applicable as the regulatory framework for them is absent.
For traditional financial institutions, the **Anti-Money Laundering and Terrorist Financing Act of 2012 (as amended)** and related regulations from the Central Bank of Liberia (CBL) would outline thresholds for reporting and information collection related to wire transfers. However, the FATF Travel Rule (R.16) for wire transfers generally requires originator and beneficiary information for *all* transfers by covered entities, with no de minimis threshold.
**No specific category of VASPs is currently covered** by AML/CTF obligations or Travel Rule requirements in Liberia, due to the lack of a comprehensive legal and regulatory framework for VAs/VASPs. The FATF MER highlights that Liberia has not identified or licensed any VASPs operating in its jurisdiction, nor has it applied AML/CTF requirements to them.
Since there's no legal or regulatory framework for VAs/VASPs or the Travel Rule, there are **no defined technical implementation requirements** for VASPs in Liberia.
**No specific penalties** for non-compliance with the Travel Rule for VASPs exist, as the framework itself is not in place.
However, Liberia's Anti-Money Laundering and Terrorist Financing Act of 2012 (as amended) and other relevant financial laws provide for penalties for general AML/CTF non-compliance by regulated financial institutions. If any entity were operating as a VASP and engaging in activities that could be interpreted under existing laws (e.g., unauthorized financial services), they could potentially face penalties under those broader statutes.
**FATF Mutual Evaluation Report of Liberia (October 2021):**
This is the primary source for understanding Liberia's current AML/CTF framework and its gaps, especially concerning Virtual Assets and VASPs.
*Key sections to review:* Executive Summary, Section 3 (Legal Framework), and specifically Recommendations 15 and 16, as well as the assessment of Immediate Outcome 7 (ML/TF risks from VAs).
**The Anti-Money Laundering and Terrorist Financing Act of 2012 (as amended):**
This is Liberia's primary AML/CTF legislation. While it predates the explicit FATF guidance on VAs/VASPs, it forms the general legal basis for AML/CTF in the country for traditional financial institutions.
*Finding a direct, publicly accessible URL for the most current amended version can be challenging. It's often referenced in official government documents and the FATF MER. You may find copies via legal databases or the Central Bank of Liberia's publications if they host it.*
**Central Bank of Liberia (CBL) Website:** The CBL is the primary regulator for financial institutions and would issue any related guidance or regulations.
**URL:** https://www.cbl.org.lr/ (You would typically navigate to their "Publications" or "Regulations" section to look for AML/CTF documents.)
Tax Reporting
**Mining Activities:** If an individual or business engages in crypto mining with the intention of profit, the proceeds (less allowable expenses) would likely be treated as business income and subject to regular income tax rates.
**Trading as a Business:** If an individual or entity actively trades cryptocurrency frequently and systematically with the intention of generating profits, it may be deemed a business activity. Profits from such activities would be subject to corporate or individual income tax rates.
**Receiving Crypto as Payment:** If an individual or business receives cryptocurrency as payment for goods or services rendered, the fair market value of the crypto in Liberian Dollars (LRD) at the time of receipt would be considered taxable income.
**Airdrops, Staking Rewards, Lending Income:** These are generally considered income events. The fair market value in LRD at the time of receipt would likely be taxable as ordinary income.
**Individuals:** Liberia has a progressive income tax system for individuals, with rates varying based on income brackets.
**Corporations:** A flat corporate income tax rate typically applies to business profits.
**Taxable Event:** A capital gains event typically occurs when crypto is:
Used to purchase goods or services (the disposition of the crypto triggers the gain/loss).
**Calculation:** The capital gain is generally calculated as the difference between the disposal price (fair market value in LRD at the time of disposal) and the cost basis (original purchase price in LRD).
**Cost Basis:** It's crucial to maintain accurate records of purchase dates, prices, and quantities.
Liberia does impose capital gains tax. The general rate for capital gains from the sale of assets (including shares and other non-real estate assets) has historically been around **15% to 20%**. However, specific rules can apply depending on the asset type and whether it's an individual or a corporation.
**Services Related to Crypto:** Services provided *in relation to* cryptocurrency (e.g., exchange fees charged by a Liberian-based crypto exchange, consulting services on blockchain technology, transaction processing fees) would likely be subject to GST if the service provider is registered for GST and meets the taxable supply threshold.
**Record Keeping:** Taxpayers are expected to keep detailed records of all cryptocurrency transactions, including:
Purpose of the transaction (e.g., purchase, sale, exchange, payment).
**Conversion to LRD:** All values must be converted to Liberian Dollars (LRD) for tax reporting purposes, typically using the prevailing market exchange rate at the time of the transaction.
**Individual Taxpayers:** Would report crypto income/gains on their annual personal income tax returns.
**Businesses:** Would include crypto-related profits/losses in their corporate income tax returns and financial statements.
This is the primary body responsible for administering tax laws in Liberia. You would typically find tax acts, circulars, and announcements here.
**Ministry of Finance and Development Planning (MFDP):**
The MFDP is responsible for fiscal policy and development planning, overseeing the LRA.
While primarily focused on monetary policy and financial regulation, the CBL would be involved in any broader regulatory framework for virtual assets that might influence tax treatment.
Custody Requirements
**No specific custodial license for digital assets currently exists.** Any entity in Liberia offering digital asset custody services would likely operate in a regulatory gray area or *might* be indirectly subject to general financial services licensing if its activities are deemed to fall under existing financial institution definitions (e.g., as a payment service provider or financial intermediary), but this would not be crypto-specific.
**Regulatory Reference:** The primary legal framework for financial institutions is the **Central Bank of Liberia Act of 1999 (as amended)**, which outlines the CBL's powers and the licensing requirements for traditional financial institutions. This Act does not mention digital assets or crypto custody.
**Central Bank of Liberia Website:** https://www.cbl.org.lr/
**CBL Laws & Regulations Page:** Look for "Laws and Regulations" or "Legal Framework" on their site. An older version of the Act can often be found, for example, under publications like `https://www.cbl.org.lr/doc/CBL%20Act%201999%20Amended%202011.pdf` (Note: Always check the CBL website for the most current version).
**No specific rules exist for the segregation of client digital assets.** In traditional finance, robust segregation rules protect client funds from institutional insolvency. Without a specific framework for digital assets, such rules are absent.
**No specific insurance or bonding requirements for digital asset custodians.** Traditional financial institutions might have deposit insurance (e.g., through the Liberia Deposit Insurance Corporation, LDIC) or capital requirements, but these do not extend to digital asset holdings.
**No specific mandates for cold storage or other technical security requirements for digital asset custody.** This level of technical detail in regulation is characteristic of more mature crypto regulatory frameworks, which Liberia does not yet possess.
**No specific definition of a "qualified custodian" for digital assets.** This term typically arises in jurisdictions where registered investment advisors or other regulated entities are required to hold client assets with a "qualified custodian," usually a regulated bank or trust company meeting specific criteria.
There is **no publicly available information** indicating specific pending legislation in Liberia related to cryptocurrency or digital asset custody.
Like many countries, Liberia is likely under pressure from international bodies like the Financial Action Task Force (FATF) to develop an anti-money laundering (AML) and counter-terrorism financing (CTF) framework that covers virtual assets. Any future legislation might first focus on AML/CTF obligations for Virtual Asset Service Providers (VASPs), which could *indirectly* touch upon custody providers as a type of VASP.
**Relevant General Law (AML/CTF):** Liberia does have an Anti-Money Laundering and Counter-Terrorist Financing Act (e.g., the 2012 Act), but it predates significant crypto adoption and may not explicitly cover virtual assets or custody in detail. Future amendments or new laws would be needed to address FATF recommendations for VASPs.
**URL:** Information on Liberia's AML/CTF framework is typically found on the CBL or Ministry of Justice websites, or reports from the Inter-Governmental Action Group against Money Laundering in West Africa (GIABA).
Stablecoin Regulation
No verified facts yet. 21 unverified fact(s) in explorer
Securities Classification
Securities classification data collection in progress.
Sanctions & Restrictions
Sanctions data collection in progress.
Research & Articles
Regulatory Forecast
high confidenceLikely regulatory action expected around 2026-04-28
Based on 98 historical regulatory events for Liberia, with increasing regulatory activity.
Recent Updates
**Central Bank of Liberia (CBL):**
**Central Bank of Liberia (CBL):**
**United Nations (UN) Security Council Sanctions:** These are universally binding on UN member states, including Libe...
**United Nations (UN) Security Council Sanctions:** These are universally binding on UN member states, including Liberia. UN sanctions lists target individuals, entities, and regimes involved in terrorism, proliferation of weapons of mass destruction, and other threats to international peace and security.
**U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) Sanctions:** While OFAC sanctions are pri...
**U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) Sanctions:** While OFAC sanctions are primarily U.S. law, their extraterritorial reach (especially through the U.S. financial system) means that any VASP or financial institution anywhere in the world that engages in transactions involving a U.S. person, U.S. dollar, or U.S. technology must comply. Non-compliance can lead to severe penalties and loss of access to the U.S. financial system.
**European Union (EU) Sanctions:** EU sanctions are binding on persons and entities within EU jurisdiction, but like ...
**European Union (EU) Sanctions:** EU sanctions are binding on persons and entities within EU jurisdiction, but like OFAC, they have a significant global impact due to the EU's economic power.
**Continuous Screening:** Implement ongoing screening of all customers, beneficial owners, and associated parties aga...
**Continuous Screening:** Implement ongoing screening of all customers, beneficial owners, and associated parties against up-to-date UN, OFAC, and EU sanctions lists.
**Sanctioned Jurisdictions:** VASPs must block or reject transactions originating from or destined for jurisdictions ...
**Sanctioned Jurisdictions:** VASPs must block or reject transactions originating from or destined for jurisdictions subject to comprehensive UN, OFAC, or EU sanctions (e.g., North Korea, Iran, parts of Russia, Syria, Cuba, etc.), unless explicitly authorized by relevant authorities.
**Fines:** Significant monetary penalties for individuals and corporate entities.
**Fines:** Significant monetary penalties for individuals and corporate entities.
**Imprisonment:** Individuals involved in money laundering, terrorist financing, or sanctions evasion can face length...
**Imprisonment:** Individuals involved in money laundering, terrorist financing, or sanctions evasion can face lengthy prison sentences.
**Reputational Damage:** Significant harm to the institution's reputation, leading to loss of business and de-risking...
**Reputational Damage:** Significant harm to the institution's reputation, leading to loss of business and de-risking by correspondent banks.
**Secondary Sanctions Risk:** Non-compliance, especially with OFAC sanctions, can expose Liberian entities to seconda...
**Secondary Sanctions Risk:** Non-compliance, especially with OFAC sanctions, can expose Liberian entities to secondary sanctions from the U.S., potentially cutting them off from the global financial system.
**Central Bank Digital Currencies (CBDCs):** If Liberia were to issue a digital currency, it would function as legal ...
**Central Bank Digital Currencies (CBDCs):** If Liberia were to issue a digital currency, it would function as legal tender, not a security.
**Central Bank of Liberia (CBL) – Warnings/Statements on Cryptocurrencies:**
**Central Bank of Liberia (CBL) – Warnings/Statements on Cryptocurrencies:**
**CBL's General Stance:** The Central Bank of Liberia has repeatedly warned that entities operating financial service...
**CBL's General Stance:** The Central Bank of Liberia has repeatedly warned that entities operating financial services, including those dealing with digital currencies, must be licensed and regulated by the CBL. However, this general warning highlights the lack of a suitable licensing category for cryptocurrency operations, rather than providing one.
**Unlicensed Activity:** Operating a stablecoin issuance business in Liberia without specific authorization could fal...
**Unlicensed Activity:** Operating a stablecoin issuance business in Liberia without specific authorization could fall into a regulatory gray area, potentially being viewed as unauthorized banking or financial services activity depending on its nature and scale.
**No announced plans for a CBDC:** As of my last update, the Central Bank of Liberia has **not publicly announced con...
**No announced plans for a CBDC:** As of my last update, the Central Bank of Liberia has **not publicly announced concrete plans** to research, pilot, or launch a Central Bank Digital Currency (CBDC).
This report is based solely on **publicly available information** as of **June 2024**. It does not preclude the possi...
This report is based solely on **publicly available information** as of **June 2024**. It does not preclude the possibility that the Central Bank of Liberia (CBL) may be conducting non-public exploratory work, internal discussions, or preliminary research on CBDCs with external consultants or international partners. The absence of public announcements does not definitively confirm a complete absence of all CBDC-related activity within the CBL.
As of June 2024, the Central Bank of Liberia has **not publicly announced any concrete plans** to research, pilot, or...
As of June 2024, the Central Bank of Liberia has **not publicly announced any concrete plans** to research, pilot, or launch a Central Bank Digital Currency (CBDC). This finding is based on a review of official CBL publications, press releases, and statements from senior officials CBL Official Website - No CBDC Mention. The CBL's most recent strategic plans focus on traditional monetary policy and financial stability, with no CBDC-related objectives in publicly available documents CBL Annual Report 2022.
**Financial inclusion remains very low**: According to the Global Findex 2021 database, only **33% of Liberian adults...
**Financial inclusion remains very low**: According to the Global Findex 2021 database, only **33% of Liberian adults (age 15+)** had an account at a financial institution or mobile money provider in 2021. This is below the Sub-Saharan Africa average (55%) and significantly below the global average (76%) World Bank Global Findex 2021 - Liberia.
**Mobile money penetration is growing but still low**: Mobile money accounts reached approximately **1.2 million** (a...
**Mobile money penetration is growing but still low**: Mobile money accounts reached approximately **1.2 million** (against a population of ~5.2 million) as of 2022, per GSMA data. However, active usage is lower, and geographic coverage favors urban areas GSMA Mobile Economy Sub-Saharan Africa 2023.
**Remittances are a critical economic lifeline**: Remittances to Liberia equaled approximately **25-30% of GDP** in r...
**Remittances are a critical economic lifeline**: Remittances to Liberia equaled approximately **25-30% of GDP** in recent years. In 2022, recorded remittance inflows were $600 million (World Bank data), with unofficial flows likely much higher World Bank Migration and Remittances Data.
**High cost of remittance transfers**: The cost of sending $200 to Liberia averaged **8.5%** in Q1 2024, well above t...
**High cost of remittance transfers**: The cost of sending $200 to Liberia averaged **8.5%** in Q1 2024, well above the UN Sustainable Development Goal target of 3%. This high cost is exacerbated by reliance on traditional money transfer operators (e.g., Western Union, MoneyGram) World Bank Remittance Prices Worldwide.
**Electricity access is a major barrier**: Only **29%** of Liberia’s population has access to electricity (2021 World...
**Electricity access is a major barrier**: Only **29%** of Liberia’s population has access to electricity (2021 World Bank data), severely limiting the ability to charge devices and use digital financial services consistently World Bank Access to Electricity - Liberia.
**Mobile money agents remain concentrated** in Monrovia and other urban centers, with rural areas underserved, creati...
**Mobile money agents remain concentrated** in Monrovia and other urban centers, with rural areas underserved, creating a "last mile" problem for any CBDC deployment GSMA State of the Industry Report on Mobile Money 2023.
**Large informal economy**: The informal sector accounts for an estimated **60-70% of GDP**, creating a large tax gap...
**Large informal economy**: The informal sector accounts for an estimated **60-70% of GDP**, creating a large tax gap and limiting monetary policy transmission. A CBDC could theoretically improve tracking of economic activity, but no CBL analysis has been published on this ILO Informal Economy Database.
**Financial inclusion gaps**: Women, rural populations, and youth are particularly underserved. Only **25% of women**...
**Financial inclusion gaps**: Women, rural populations, and youth are particularly underserved. Only **25% of women** had a financial account in 2021 vs. 41% of men World Bank Global Findex Gender Data. A CBDC targeting mobile money could help, but low smartphone/ internet penetration limits feasibility.
**ECOWAS has no collective CBDC strategy**: The Economic Community of West African States (ECOWAS) has not issued a u...
**ECOWAS has no collective CBDC strategy**: The Economic Community of West African States (ECOWAS) has not issued a unified position on CBDCs. The bloc’s focus remains on the long-delayed single currency (the Eco). No ECOWAS resolution or directive on CBDCs exists ECOWAS Official Website.
**Nigeria leads the region**: Nigeria launched the **eNaira** in October 2021, becoming the first African country to ...
**Nigeria leads the region**: Nigeria launched the **eNaira** in October 2021, becoming the first African country to issue a CBDC. However, adoption has been low (estimated ~1% of mobile money users by 2023). The Central Bank of Nigeria has publicly acknowledged challenges including poor user uptake and technical issues Central Bank of Nigeria eNaira Page.
**Ghana is piloting**: The Bank of Ghana launched a pilot of its **eCedi** in 2022. While still in trial phases, it i...
**Ghana is piloting**: The Bank of Ghana launched a pilot of its **eCedi** in 2022. While still in trial phases, it is the most advanced CBDC project in West Africa. See their detailed design document Bank of Ghana eCedi Design Paper.
**Sierra Leone**: The Bank of Sierra Leone has conducted exploratory discussions but has not announced a formal CBDC ...
**Sierra Leone**: The Bank of Sierra Leone has conducted exploratory discussions but has not announced a formal CBDC project as of early 2024. No public report found Bank of Sierra Leone Official Site.
**Côte d’Ivoire**: No public CBDC plans from the Central Bank of West African States (BCEAO), which controls the CFA ...
**Côte d’Ivoire**: No public CBDC plans from the Central Bank of West African States (BCEAO), which controls the CFA franc for the WAEMU zone (including Côte d’Ivoire, Senegal, etc.). BCEAO has only issued general statements about monitoring digital innovations BCEAO Official Website.
**No specific regulation exists**: Liberia has not enacted any laws specifically addressing cryptocurrencies, stablec...
**No specific regulation exists**: Liberia has not enacted any laws specifically addressing cryptocurrencies, stablecoins, or digital assets. The CBL has issued no public guidance or warnings beyond generic financial stability statements CBL Press Releases.
**Adoption is minimal but unregulated**: Informal peer-to-peer crypto trading exists, particularly through platforms ...
**Adoption is minimal but unregulated**: Informal peer-to-peer crypto trading exists, particularly through platforms like Binance and local Telegram groups, but no official data is available. The 2020 UNCTAD report on Liberia noted the absence of a regulatory framework for digital currencies UNCTAD Liberia Case Study.
**No dedicated fintech or innovation unit** is publicly listed within the CBL’s organizational structure. The CBL’s 2...
**No dedicated fintech or innovation unit** is publicly listed within the CBL’s organizational structure. The CBL’s 2022–2026 Strategic Plan prioritizes core central banking functions (monetary stability, banking supervision) with no references to CBDCs or advanced digital payment infrastructure CBL Strategic Plan 2022-2026.
**External support**: Liberia has received IMF and World Bank technical assistance primarily for traditional banking ...
**External support**: Liberia has received IMF and World Bank technical assistance primarily for traditional banking sector reforms, not for digital currency experimentation.
World Bank Global Findex 2021 - Liberia
World Bank Global Findex 2021 - Liberia
World Bank Migration and Remittances Data
World Bank Migration and Remittances Data
World Bank Remittance Prices Worldwide
World Bank Remittance Prices Worldwide
World Bank Access to Electricity - Liberia
World Bank Access to Electricity - Liberia
Central Bank of Nigeria eNaira Page
Central Bank of Nigeria eNaira Page
Bank of Ghana eCedi Design Paper
Bank of Ghana eCedi Design Paper
Bank of Sierra Leone Official Site
Bank of Sierra Leone Official Site
The 2021 FATF Mutual Evaluation Report (MER) for Liberia explicitly states that the country "has not yet assessed its...
The 2021 FATF Mutual Evaluation Report (MER) for Liberia explicitly states that the country "has not yet assessed its money laundering and terrorist financing risks relating to virtual assets and VASPs, and has not yet put in place the necessary legal or regulatory framework for VAs and VASPs as required by Recommendation 15" FATF MER Liberia 2021.
Since the Travel Rule for VAs/VASPs has not been adopted, there is **no specific effective date** for its implementat...
Since the Travel Rule for VAs/VASPs has not been adopted, there is **no specific effective date** for its implementation in Liberia FATF MER Liberia 2021.
For VASPs, **no specific threshold amounts** are applicable as the regulatory framework for them is absent FATF MER L...
For VASPs, **no specific threshold amounts** are applicable as the regulatory framework for them is absent FATF MER Liberia 2021.
For traditional financial institutions, the Anti-Money Laundering and Terrorist Financing Act of 2012 (as amended) an...
For traditional financial institutions, the Anti-Money Laundering and Terrorist Financing Act of 2012 (as amended) and related regulations from the Central Bank of Liberia (CBL) would outline thresholds for reporting and information collection related to wire transfers. The FATF Travel Rule (R.16) for wire transfers generally requires originator and beneficiary information for all transfers by covered entities, with no de minimis threshold FATF MER Liberia 2021.
**No specific category of VASPs is currently covered** by AML/CTF obligations or Travel Rule requirements in Liberia,...
**No specific category of VASPs is currently covered** by AML/CTF obligations or Travel Rule requirements in Liberia, due to the lack of a comprehensive legal and regulatory framework for VAs/VASPs. The FATF MER highlights that Liberia has not identified or licensed any VASPs operating in its jurisdiction, nor has it applied AML/CTF requirements to them FATF MER Liberia 2021.
Since there is no legal or regulatory framework for VAs/VASPs or the Travel Rule, there are **no defined technical im...
Since there is no legal or regulatory framework for VAs/VASPs or the Travel Rule, there are **no defined technical implementation requirements** for VASPs in Liberia FATF MER Liberia 2021.
Finding a direct, publicly accessible URL for the most current amended version can be challenging. It's often referen...
Finding a direct, publicly accessible URL for the most current amended version can be challenging. It's often referenced in official government documents and the FATF MER. Copies may be found via legal databases or the Central Bank of Liberia's publications FATF MER Liberia 2021.
The **Central Bank of Liberia (CBL)** is the primary regulator for financial institutions and would issue any related...
The **Central Bank of Liberia (CBL)** is the primary regulator for financial institutions and would issue any related guidance or regulations. Their website is https://www.cbl.org.lr/ where you can navigate to the "Publications" or "Regulations" section for AML/CTF documents FATF MER Liberia 2021.
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