Panama Unveils Proposed Crypto Bill to Regulate Cryptocurrencies and Promote Blockchain-Based Services

Panama has unveiled a proposed crypto bill to regulate cryptocurrencies and promote the development of blockchain-based services, according to CryptoSlate. The proposed bill establishes a legal framework for the use of digital assets, sets licensing requirements for service providers, and includes strict compliance measures in line with international financial standards. Digital assets are recognized as a legitimate means of payment, allowing individuals and businesses to freely agree on their use in commercial and civil contracts. In addition, the bill explicitly authorizes the use of cryptocurrencies such as bitcoin, ethereum and stablecoin for the purchase of goods, payment of services and settlement of debts, provided that both parties agree.