The high court will now decide whether to declare the ‘crypto bill’ unenforceable or to approve it with modifications.
The bill will now go back to the country’s National Assembly for debate.
Towerbank, a top 30 bank in Panama, just announced bitcoin friendly services at an event hosted by the Chamber of Digital Commerce and Blockchain of Panama.
The bill was approved during a plenary session of the Legislative Assembly by a 40-0 vote on April 28.
After the president’s signature, the bill will regulate the usage of bitcoin as payment in the country.
The Crypto Law is aimed at making Panama “compatible with the digital economy, blockchain, crypto assets and the internet.”
Bitcoin (BTC) and crypto adoption on a state level may soon extend beyond El Salvador, with politicians elsewhere in the Americas – and even one European royal – mulling moves that could see the cryptocurrency brought into their financial systems in some form or other….
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Santo Blockchain’s plans in Latin America consist of 300 Bitcoin ATMs, a layer-2 wallet and a Bitcoin debit card.
An interview with two architects behind Panama’s proposed cryptocurrency bill, which would legally define bitcoin for the country.