On March 28, 2025, Panama published a draft bill to regulate cryptocurrencies and foster blockchain services development. The initiative, led by Gabriel Silva, aims to position Panama as a leader in blockchain innovation.
Panama Recognizes Cryptocurrencies for Legal Payments
Panama's draft bill introduces digital assets as recognized legal means of payment, applicable in commercial and civil contracts with mutual consent. It enforces a regulatory framework requiring virtual asset service providers to register and comply with KYC and AML policies.
Current Market Trends and Regulatory Challenges
Panama's drive towards cryptocurrency regulation faced setbacks when the Supreme Court ruled against a previous crypto law in 2023. Bitcoin currently trades at $84,152.58 with a market cap of $1.67 trillion, based on CoinMarketCap data.
Coincu Research Insight
Coincu research highlights Panama's commitment to bridging gaps between innovation and regulation, fostering a secure environment for digital transactions and reducing financial crime risks.
The Panamanian cryptocurrency bill underscores the importance of merging innovation with regulation to create a favorable investment and blockchain service environment.
