Panama Lawmakers To Analyse Crypto Regulation Bill

Panama lawmakers to analyse crypto regulation bill. According to La Estrella de Panama, the MP is looking to pursue an agenda focused on digitalizing the Panamanian economy. He believes in the dire need to monitor the crypto-environment of the world, as the ecosystem “favours” the growth of the economy.

Rodríguez wants for the bill to be able to develop a legal framework for Panamanian companies that want to do business with digital assets, such as bitcoin (BTC). He warned how Panama lags behind other nations in the matter “Panama cannot be left behind when many countries in the world have already started to regulate cryptocurrencies and are at the forefront of the digital economy, taking advantage of its benefits and creating legal mechanisms to protect its economy, its population and contribute to the development of this new form of doing business.” 

The MP also further clarified that the crypto bill intends to bring “financial freedom” to all Panamanians who don’t have access to the traditional banking system. He also expects to strengthen the nation’s social security fund and the disability, old age, and death fund (IVM) with cryptocurrencies.

The politician believes this is a pivotal time in Panama for the national legislature to adopt crypto-friendly policies. He backed up his comments by stating there is a “vast international experience” in regards to regulating the crypto industry “We trust that the Committee on Trade and Economic Affairs of the Assembly will give due attention to this important preliminary bill. Hopefully, the parliament will make a necessary and wide discussion and that the country could update its regulations in the face of this globalization of the digital economy, which is here to stay, and we must take up the challenge.” 

[image: Miguel Bruna]

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