Tag: Panamas

Panama’s Supreme Court to rule on cryptocurrency legislation

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Panama’s crypto bill saga has reached a new chapter, with the country’s Supreme Court deciding the future of the local crypto industry. Panama’s President Laurentino Cortizo sent on Jan. 26 the Bill No. 697, dubbed the “crypto bill,” to the high court for review and approval, after objecting to the legislation, claiming it violated the constitution’s core principles and was unenforceable. The Supreme Court must now decide whether to declare the legislation unenforceable or to approve it with modifications. According to an official statement, the government considers articles 34 and…

Panama’s president says he won’t sign crypto bill into law ‘at this moment’

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Laurentino Cortizo, the president of Panama, has said he won’t sign off on a crypto bill recently approved by the country’s National Assembly without additional Anti-Money Laundering rules. Speaking at the Bloomberg New Economy Gateway Latin America conference on Wednesday, Cortizo said the bill recently passed by Panama’s legislature must go through legal checks before reaching his desk, but added he needed more information before potentially signing it into law. Describing the legislation as an “innovative law” and a “good law,” the president said he approved of certain aspects of…

Panama’s legislature approves bill regulating crypto

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Lawmakers in Panama have passed a bill that will regulate cryptocurrencies, including Bitcoin, in the Latin American country. In a Thursday tweet, Panamanian pro-crypto congressperson Gabriel Silva said lawmakers had approved the “Panama Crypto Law” following a third debate. According to Silva, the law will “help Panama become a hub of innovation and technology in Latin America.” According to Panama’s National Assembly, the Crypto Law is aimed at regulating “the trading and use of crypto assets, the issuance of digital value, the tokenization of precious metals and other assets, payment…