Panama Is Working On A Cryptocurrency Law

Panama is working on a cryptocurrency law. After El Salvador, studies to regulate cryptocurrencies began in Panama.

After El Salvador made Bitcoin legal in the country, various steps are being taken to regulate cryptocurrencies in Panama, another Central American country. Members of the Panama Commission on Trade and Economic Affairs, which is part of the country's National Assembly, began discussing two bills related to cryptoassets. At the meeting held in Panama yesterday, two cryptocurrency bills were discussed by lawmakers. According to the latest information, it is expected that the discussions on the merging and unification of the two bills 696 and 697 in question, by the committee members, will be moved to the National Assembly. In addition, two bills from different representatives both address crypto. The 696 draft laws in question; It aims to regulate cryptocurrencies, tokens, NFTs and Blockchain technology used in Panama. In addition, the bill proposes the issuance of a token called 7UT with cryptocurrencies named Bitcoin, Ethereum, Tether and Elrond. Bill 697 represents a wide-ranging crypto law, first introduced in September by independent congressman Gabriel Silva, specifically referring to Bitcoin and Ethereum as types of crypto assets. At the meeting, each of the deputies defended their own bill.