New Legislation Introduced in Panama to Turn the Country into a Crypto Hub

Key Takeaways:


  • Panama plans to legalize voluntary crypto payments in commercial transactions.

  • The bill establishes a regulatory regime for Virtual Asset Service Providers (VASPs).

  • The potential of blockchain integration for state process optimization is also in consideration.

  • Panama is set to introduce a comprehensive draft bill this month, taking a big step forward in its mission to regulate cryptocurrency and promote the development of blockchain technology.


    Legalizing Voluntary Digital Payments: Panama Pushes for Crypto Adoption


    The crux of the proposed bill is the legal recognition of digital assets as a lawful payment method. This gives individuals and businesses the potential freedom to mutually decide to accept cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), and stablecoins — whether to buy goods or pay off debts. This includes potential for leveraging digital assets in commercial and ..

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