MONROVIA, LIBERIA – The Central Bank of Liberia (CBL) says its attention has been drawn to a Crypto currency company that is expected to be launched in the country this Friday.

According to a CBL release, the Abundance Community Coin (TACC) has no license to transact any financial business in Liberia, in accordance with Section 3 (1) of the New Financial Institutions Act of Liberia.

The bank’s clarification comes following a local daily publication that a “First Digital Asset Company is to be Launched in Liberia”, with particular reference to the purported Crypto currency company.

The CBL said at no time has it approved any license for the TACC and views attempt by the company to introduce a digital financial product as illegal.

The CBL release says the company’s action undermines the country’s financial system and urged members of the public to exercise due caution in transacting with the purported Crypto currency company.