PANAMA CITY (Reuters) -Lawmakers in Panama’s National Assembly on Thursday approved a major bill to regulate the use and commercialization of crypto assets in the Central American country.
The bill opens the door to private and public use of such assets and will make it possible for people to pay their taxes with cryptocurrencies.
The legislation is broader in scope than measures passed by El Salvador, which last year made bitcoin legal tender, said independent lawmaker and promoter of the bill Gabriel Silva.
Among other things, the bill covers the trading and use of crypto assets, issuance of digital securities and new payment systems.
“We’re seeing the emergence of many different types of crypto assets like works of art. That’s why we didn’t want to limit ourselves only to cryptocurrencies,” he said.
Under the new legislation, Panamanians may use crypto assets as means of payment for any civil or commercial operation not prohibited by law in the country.
The bill, which now passes to President Laurentino Cortizo to be signed, was approved in the assembly with 38 votes in favor, two abstentions and no votes against.
(Reporting by Elida Moreno; Writing by Valentine Hilaire; Editing by Cynthia Osterman)
