They approve a bill that regularizes crypto assets in Panama | News


The National Assembly of Panama approved this Friday a bill that regularizes the use and commercialization of crypto assets, where the legalized digital economy will be ventured through the initiative of Law 697.


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The Legislative Body unanimously approved with 38 votes said rule that “regulates the commercialization and use of crypto assets, the issuance of digital value, the tokenization of precious metals and other goods,” it adds.

According to the official statement of the Assembly, it is pointed out that this regulation opens the doors to bitcoin (BTC) and cryptocurrencies, and conceives to give legal stability to these digital elements.

For his part, deputy Gabriel Silva from his digital platforms stated that “this bill seeks to make Panama a hub for technology innovation in Latin America.”

Similarly, the parliamentarian published the legislative text, which underlines that it aims to “expand the digitization of the State by promoting the use of distributed ledger technology and blockchain in the digitization of the identity of natural persons. and legal in or from the Republic of Panama and as a means to make the public function transparent.

Likewise, the rule insists that it allows the creation of a regulatory framework that promotes banking interoperability with a view to promoting greater financial inclusion so that “a robust innovative ecosystem in financial services” emerges.

Another of the stipulations defined in the text refers that the proposal does not oblige the use of bitcoin as a means of payment because it is presented optionally, that is, the choice by the financial consumer is established.

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