Another Possible Domino, Panama Congressman Silva Introduces Crypto Legal Tender Bill
Posted on 09/08/2021
After El Salvador made Bitcoin legal tender, other Latin American countries may be following suit. Panamanian Congressman Gabriel Silva introduced a bill designed to provide “legal, regulatory, and fiscal certainty to the use, holding and issuance of digital value and crypto assets in the Republic of Panama.” The bill is called “Crypto Law: Making Panama Compatible with the digital economy, blockchain, crypto assets, and the internet.”
Panama’s official currency is the balboa. The rate of exchange for the balboa has always been tied to the U.S. dollar – one dollar equals one balboa.