The announcement was made via Twitter, where the Congressman said, “Today we present the Crypto Law. We seek to make Panama a country compatible with the blockchain, crypto assets, and the internet. This has the potential to create thousands of jobs, attract investment and make the government transparent.”
The proposed bill is titled: “Crypto Law: Making Panama Compatible with the digital economy, blockchain, crypto assets, and the internet.” The document says that the new legislation is designed to recognize digital assets as an alternative global payment method. If passed, the bill would allow for any civil or commercial operation to utilize crypto who are not otherwise permitted from doing so.