Panama introduces legislation to legalize voluntary crypto payments, regulate industry
Panama has unveiled a sweeping draft bill aimed at regulating cryptocurrencies and fostering the development of blockchain-based services, signaling a renewed effort to position the country as a fintech leader in Latin America.
The proposed law establishes a legal framework for using digital assets in financial transactions, establishes licensing requirements for service providers, and includes strict compliance measures in line with international financial standards.
Legal recognition of digital assets
Under the bill, digital assets are recognized as a legal means of payment, allowing individuals and businesses to freely agree on their use in both commercial and civil contracts.
The legislation explicitly authorizes the use of…
