#PanamaCanal Payments with cryptocurrencies in Panama could be legal

The authorities of Panama are advancing in the creation of a bill that seeks to legalize voluntary payments with cryptocurrencies. In this way, the Central American country plans to take virtual currencies out of the regulatory limbo in which they find themselves. This proposal includes other sectors related to the trade of these digital assets.

According to the proposal, it aims to strengthen the environment related to blockchain technology. In this sense, sectors such as digital asset service providers (VASP) like wallets, exchanges, and custody platforms would be covered.

Furthermore, the regulation of cryptocurrencies for the payment of financial services is proposed. This includes the granting of licenses to service provider firms. The latter would project strict measures in accordance with international regulatory standards, they express. This is a step of great importance for this country, which has had a dynamic internal trade in cryptocurrencies for years.