As reported by Reuters, the National Assembly of Panama has virtually overwhelmingly passed a measure that would govern the usage and sale of crypto assets in a nation that is already regarded as a centre for offshore financial services.
With 38 votes in favour, two abstentions and no votes against, the law has now been sent to President Laurentino Cortizo for his signature.
Tokenization of precious metals and digital securities, as well as new payment methods, are all part of the legislation. For any civil or commercial transaction that is not banned by law in Panama, Panamanians would be permitted to utilise crypto assets as a form of payment.
K&B Family Office CEO, Romain Dromard, tells Reuters that Panama’s new crypto law may not make it look more transparent to the European Union.
In September, The Block interviewed independent legislator and bill advocate Gabriel Silva, who claimed that the legislation was more comprehensive than El Salvador’s initiatives from the previous year.
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