An independent lawmaker in Panama has introduced a bill to the country’s National Assembly that if approved will regulate crypto assets and promote blockchain adoption.
The proposed law aims to make Panama “compatible with blockchain, crypto assets and the internet,” tweeted congressman Gabriel Silva, whose profile photo features the red laser beam eyes popular with bitcoin enthusiasts. Silva, who tweeted about the proposal on September 6, is encouraging people to leave comments and feedback on his website.
“Our proposal is simple and seeks, first, to give legal certainty and safety to crypto assets in Panama—for example, cryptocurrencies,” Silva says in a video explaining the potential law. In addition, the law aims to attract digitally-focused entrepreneurs, companies and investments that could create local job opportunities and broaden financial services with lower prices. The proposal also seeks to offer citizens the option of paying taxes and fees with crypto assets.