Tuesday, August 9

Panama: deputies will discuss laws to regulate bitcoin and cryptocurrencies

Deputies of the National Assembly of Panama will begin to debate in a subcommittee two bills for the regulation of bitcoin and cryptocurrencies, that legislative body reported.

“A subcommission was formed in order to unify criteria, which regulates the use of cryptocurrencies as payment methods and everything related to blockchain technology in Panama”, exposed the Assembly on the social network Twitter.

The working group You must respond to the Trade and Economic Affairs Commission within 10 business days with a report showing the conclusions of the discussions.

One of the Projects that will be evaluated, was the presented by Deputy Cenobia Vargas.

According to a local media, Vargas said during his speech in the Assembly, that the law is to spread the use of cryptocurrencies as a means of payment in the Panamanian population.

In that sense, he warned that he who “does not adjust will stay.” In his opinion, there were people who said they did not like WhatsApp, but said that now even his grandmother sends messages.

Vargas presented the bill last August, a fact reported by CriptoNoticias. The document, which contains eight chapters and 31 articles, among other things, touches on tax issues, measures to counteract money laundering, technical training, mining of digital assets and permits for banks to design business models with cryptocurrencies.

In Panama, there has been an attempt to address the issue of cryptocurrencies for a long time from the regulatory point of view, the most recent case was that of Deputy Gabriel Silva, draft which will also be discussed now by the subcommittee.

The legislator introduced, last September, a draft law for the regulation of bitcoin and other cryptocurrencies in that country, as reported by CriptoNoticias.

Silva’s objective with this project was to give crypto assets certainty and legal security in Panama and attract investors and entrepreneurs who focus on the digital economy.