Lawmaker Presents Bill to Regulate Cryptocurrencies in Panama

Lawmaker Presents Bill to Regulate Cryptocurrencies in Panama

A Panamanian lawmaker has introduced a bill to regulate cryptocurrencies in the National Assembly. Among the proposals in the bill is the legalization of cryptocurrencies, like bitcoin and ethereum, as a means of payment, including for paying taxes.

Proposed Crypto Law Will ‘Give Legal Certainty and Safety to Crypto Assets in Panama’

As the Bitcoin Law went into effect in El Salvador making BTC legal tender, Panamanian legislator Gabriel Silva tweeted on Sept. 7, “Today we proposed the Crypto Law.” He elaborated:

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We want Panama to be compatible with blockchain, cryptoassets, and the internet. This has the potential to create jobs, attract investment and bring transparency.

The draft law he presented in the National Assembly is titled “Crypto law: Making Panama compatible with the digital economy, blockchain, cryptoassets, and the internet.”

Silva explained that the law “seeks to revolutionize public administration, making it transparent, innovative and also promoting a digital economy that reaches most of the citizens.”

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