Mon. Jun 24th, 2024

Panamanian politicians have approved a law making all cryptocurrencies, not just bitcoin, a legal method of payment. Once the president has signed this new law, every company and government body will have to accept crypto.

Panama must become a centre of innovation

“This will help Panama become a centre of innovation and technology in Latin America,”

tweeted Congressman Gabriel Silva, who introduced the bill.

“The only thing missing is that the president signs it. Thank you to everyone who helped. This will help create jobs and financial inclusion.”

Beyond El Salvador and the Central African Republic

According to the Panamanian Legislative Assembly, the law

“regulates the trade and use of crypto assets, the issuance of digital value, tokenisation of precious metals and other assets, payment systems and other provisions.”

This goes far beyond what El Salvador has done, this country chose to make bitcoin a legal means of payment only. Panama is also going further than the Central African Republic (CAR), which yesterday announced that bitcoin will become legal tender.


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