Even though this winter continues to stress test the case for Bitcoin advocation, some lawmakers strive to put their names on the crypto hot list.
Panama’s Supreme Court to rule on cryptocurrency legislation
The high court will now decide whether to declare the “crypto bill” unenforceable or to approve it with modifications.
SushiSwap to create three DAOs in Panama and Cayman in business restructuring
The proposal received 100% votes, establishing the DAO Foundation, the Panamanian Foundation, and the Panamanian Corporation.
Law Decoded, June 13–20: Celsius exodus and liquidity crisis
American platform became the first one to freeze the withdrawal operations, but might not be the last
President of Panama shoots down crypto bill citing FATF guidelines
Although the President has previously called the laws innovative, his concern regarding anti-money laundering measures has put the bill back up for debate with the government.
Top 30 Panama Bank is ‘Bitcoin friendly,’ welcomes crypto services
Panamanian bank Towerbank opens its doors to Bitcoin and crypto customers in a series of tweets and memes.
Panama’s president says he won’t sign crypto bill into law ‘at this moment’
“If the law has clauses related to money laundering activities — anti-money laundering activities — that’s very important to us,” said Panama President Laurentino Cortizo.
Panama’s legislature approves bill regulating crypto
The Crypto Law is aimed at making Panama “compatible with the digital economy, blockchain, crypto assets and the internet.”
Santo Blockchain to deliver 50 Bitcoin ATMs to Panama
Santo Blockchain’s plans in Latin America consist of 300 Bitcoin ATMs, a layer-2 wallet and a Bitcoin debit card.
Panama To Recognize Bitcoin As Payment Alternative, Issues New Regulations
A new bill that aims at recognizing Bitcoin as another payment method has emerged in Panama. The bill will also give residents the freedom to use cryptocurrencies. Amidst El Salvador adopting BTC as legal tender, a Central American country is trailing the same path. The intent is to give residents of the country the freedom to start using cryptos like Ether (ETH) and BTC.
The Republic of Panama on September 6th passed a bill on cryptocurrency regulation. The bill aims to make Panama compatible with the internet, blockchain, and crypto-assets.
Gabriel Silva posted an announcement on Twitter, the bill can generate lots of job opportunities. He added that the legal initiative could create new sources of investments and make the Panama government more transparent.
Related Reading | New To Bitcoin? Learn To Trade Crypto With The NewsBTC Trading Course
Bitcoin is a decentralized digital currency without a single administrator or central bank. It’s represented with BTC and be sent from user to user on the peer-to-peer bitcoin network without intermediaries.
In comparison, Ethereum is also a decentralized, open-source blockchain with smart contract functionality. In addition, it has a native token Ether represented with ETH.
Silva’s Draft Bill Document
A draft bill document reveals the intention of the new legislation to recognize cryptocurrencies like BTC as a payment option. Silva distributed the document, and the cryptos will serve as a global alternative payment method. This will be for all commercial or civil operations not barned by the Republic of Panama legal system.
According to Silva, they prepared the new draft bill in collaboration with the citizens of Panama and a multidisciplinary team.
They also collaborated with experts in technology and industry. In addition, the authors of the legislation considered important guidelines as provided by the international organizations like the task force and financial action.
They emphasized that cryptos allow low-cost and fast payment enabling them to complete all financial transactions. This is irrespective of the gap between transaction volume and the parties.
El Salvador’s Bitcoin Adoption And Panama’s Crypto Bill
The El Salvador government requires local businesses to receive Bitcoin alongside the USD in exchange for goods and services. But Panama’s new legislation doesn’t make Bitcoin acceptance obligatory; it only establishes the freedom of crypto use in the country. Telemetro, the local TV network, reported.
Related Reading | Survey Shows 25% Of US Teens Prefer Cryptocurrency Investment
More Countries located in Central America now join the crypto industry amidst El Salvador’s adoption of Bitcoin as legal tender.
Bitcoin has taken a big blow and now it’s trading downward | Source: BTCUSD on TradingView.com
A company situated in Honduras has installed its first Bitcoin ATM towards the ending of August. These BTC ATMs allow users to purchase ETH and BTC with lempira, the country’s local fiat currency.
Featured image from Pixabay, chart from TradingView.com
Republic of Panama introduces bill for regulating crypto
New bill in Panama aims to recognize Bitcoin as an alternative payment method and enable freedom to use crypto.
Latin lawmakers don lazer eyes on Twitter in support of Bitcoin
An increasing number of Latin American lawmakers are donning Lazer eyes on their Twitter avatars to express their support for Bitcoin and digital assets.
ANALYSIS: The Global Game of Coins Heats Up
New paper from the PBoC says that “top-level” design of its digital currency is complete while AMLD5 in Europe is causing crypto companies to flee.
Dutch Derivatives Exchange Deribit to Move to Crypto-Friendly Panama
Deribit will operate out of Panama starting Feb. 10, citing the Netherlands’ presumed adoption of “very strict” anti-money laundering (AML) regulations.