Panama’s National Assembly has almost unanimously approved a bill to regulate the use of crypto-assets in the country, already known as a center for offshore financial services.
The bill, which has now been sent to President Laurentino Cortiso for signature, was approved by 38 votes in favor, with two abstentions and not a single vote against.
The document deals with the trading and use of cryptoassets, the issuance of digital securities, new payment systems and the tokenization of precious metals.
Panamanians will be able to use cryptoassets as a means of payment for any civil or commercial transactions not prohibited by law in the country.
Gabriele Silve, one of the bill’s creators, said in September that the law is broader than the provisions passed by El Salvador last year.