Digital / Virtual Assets in Panama

Digital Assets or Cryptocurrency is currently legal in Panama. However, the country is deficit strict regulations and currently operates under a more passive approach.  The government appears facially receptive towards the use and establishment of blockchain technology and cryptocurrencies.

Recently a bill has been presented addressing the subject to the Commerce Commission of Panama’s National Assembly in January of 2021. The bill, if passed, would establish a legal framework for Panamanian companies that want to do business with digital assets, such as bitcoin. The Authors of the Bill clarified that the crypto bill aims to bring “financial freedom” to all the Panamanians who do not have access to the traditional banking system.