Panama Lawmakers Vote To Pass New Crypto Law

The news was made via a tweet from Panama Congressman Gabriel Silva, who was responsible for introducing the legislation. As stated by the Panama Congressman, the crypto law aims to provide legal stability to crypto assets in Panama as well as to expand the crypto industry in the Latin American country in order to attract more investments and create more jobs.

According to the country's National Assembly, the bill, known as Project Law No. 697, was approved for the third time today and will regulate the commercialization and use of cryptocurrencies, the issuance of digital value, tokenization, and payment systems, among other things.

Since the bill has been approved by lawmakers, it will now pass on to the desk of the country's president, Laurentino Cortizo, where he can sign to approve or refuse to approve the bill.