The General Assembly of the Panamanian Legislature today crypto coins approved the draft law.
“New Business Areas Will Open and Financial Coverage Will Expand With the Cryptocurrency Law”
Congressman Gabriel Silva, the architect of the bill, said in his statement on the subject:
“With this law, Panama will become the center of innovation and technology in Latin America. The only thing missing right now is the president’s signature. Thank you to everyone who helped. With this law, new business areas will be opened and the financial coverage will expand.”
As reported by the country legislature, the law will regulate “the trading and use of cryptocurrencies, the issuance of digital assets, the tokenization of precious metals and other assets, payment systems and other provisions.”
In addition, it was stated that with this law, there is a possibility of the adoption of Blockchain technology by the Panamanian government in order to increase transparency and efficiency in bureaucratic transactions.
The Same Bill Passed The Economic Affairs Committee Last Week
The bill passed the economic affairs committee of the Panamanian Legislature last week before going through final approval today.
Gabriel Silva, in his statement last week regarding Panama’s crypto money law, said that with the law, legal stability will be provided to crypto assets in the country and that he thinks that more investment will come to the country with the development of the crypto industry in the country.
In the world Bitcoin After El Salvador, which was the first country to make it an official currency, last week, the Central African Republic also reported that Bitcoin was declared as the official currency in the country.
*Not investment advice.