The bill will now go back to the country’s National Assembly for debate. But President Cortizo last month said he wanted guarantees that the law would comply with global anti-money laundering standards—hinting he wouldn’t sign it immediately.
“I have to be very careful if the law has clauses related to money laundering activities,” he said in a May 19 interview with Bloomberg.
The bill wants to let Panamanians buy everyday goods with cryptocurrency. Digital assets like Bitcoin, Ethereum, XRP, Litecoin and Stellar, would be a valid form of payment “for any legal civil or commercial operation,” including the payment of taxes, fees, and duties to the government.
more