Panama’s parliament approved bill to regulate cryptocurrencies
According to Congressman Gabriel Silva, the document will help the country become a center of innovation and technology in Latin America
29.04.2022 - 14:45
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What’s new? The National Assembly (unicameral parliament) of Panama passed a bill that aims to regulate cryptocurrencies. Gabriel Silva, the author of the draft, said on Twitter that the document was approved in the third reading. According to him, the law will help Panama become a center of innovation and technology in Latin America.
What is the essence of the project? The document is aimed to regulate the trade and use of crypto assets, the launch of payment systems, and the issue of digital securities. It will also allow paying taxes in cryptocurrencies. The law will come into force after being signed by President Laurentino Cortizo of Panama.
The bill on crypto regulation was submitted for consideration in September 2021. Gabriel Silva noted that his goal is to make the country “compatible with the digital economy, blockchain, and crypto-assets.”
What happened before? On April 26, Brazil’s Senate passed a bill on the regulation of cryptocurrencies. It will form the basis for the creation of a regulatory framework for the country’s crypto industry. The draft must be approved by the Chamber of Deputies and then signed off by President Jair Bolsonaro.
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