A Crypto Regulation Bill Reportedly Introduced by the Republic of Panama
It has only been two months since the El Salvador parliament voted in favor of inducting Bitcoin as a legal tender. Almost two months following the passing of the bill, Bitcoin has been official as a legal tender in El Salvador (ES) on Tuesday, September 7, 2021.
Although the majority of the countries with strong economies continue criticizing ES’s hasty decision on legalizing Bitcoin, some countries seem to be appreciating ES’s approach. The countries that have opened up in favor of ES are the ones that are also facing the same economic pressure and downfall. Therefore, these countries have also started making a move into the crypto-verse.
El Salvador’s decision of adopting Bitcoin as a legal tender has given confidence and inspiration to such countries, and Panama is one of them. Panama is also a Latin-American country that aims to boost its economy with the adoption of cryptocurrencies as a legal tender.
When the president of El Salvador shared his thoughts about adopting Bitcoin as a legal tender, the leadership in Panama had his back. Panama also seems to have approved the idea of adopting Bitcoin and altcoins as a legal tender.
Just recently, Panama has announced that it is also planning to adopt cryptocurrencies as a legal tender. However, Panama has announced that it is going not only going to adopt Bitcoin but Ether (ETH) as well. This way, Panama will be able to offer a lot of freedom to its citizens when making transactions.
Just recently, the Republic of Panama has made an announcement in regards to the introduction of a new bill for cryptocurrencies. The Republic of Panama has announced that the bill will be introducing new regulations for cryptocurrencies in the country. The announcement in regards to the introduction of a new bill was made by the Republic of Panama on Monday, September 6, 2021.
The Republic of Panama has announced that with the implementation of the new regulation, they are aiming to regulate cryptocurrencies in the country. This would help the Republic of Panama be compatible with the internet, cryptocurrency assets, and blockchain.
The official announcement around the implementation of the new bill was made by Gabriel Silva, a prominent Panamanian congressman. Gabriel Silva is one of the government officials from around the world who has proven to be a pro in cryptocurrencies. Silva reportedly made the announcement on the implementation of the new regulation through Twitter.
Gabriel Silva has announced that with the implementation of the new law, they are aiming to bring more adoption rates for cryptocurrencies in the country. This would help Panama generate huge opportunities for investments and bring in thousands of jobs into the country. This would eventually, provide the public of Panama with more transparency in terms of development works from the Panamanian government.