(Cointelegraph) Panama is the latest Central American nation seeking crypto regulation after Congressman Gabriel Silva introduced a bill in the country’s legislature.
Panama’s bill seeks to encourage freedom of use of cryptocurrencies in the latest move.
The legislator says crypto assets such as Bitcoin could be used as an alternative in the global payment systems for commercial and civil purposes.
Silva says the legal initiative could create thousands of jobs, enable new investment vehicles, and increase transparency in government.
The proposed law recognizes that digital assets are fast and carry low fees, besides enabling payments across borders.
Unlike El Salvador, which aims to make Bitcoin a legal tender, Silva’s proposed law does not intend to force obligatory acceptance of Bitcoin.
Silva says the draft bill, prepared by a multidisciplinary team, reflects the wishes of the citizens, industry, and technology experts.
BTCUSD is down -4.67%, ETHUSD is down -5.18%.
