Panama announces proposed cryptocurrency legislation to regulate cryptocurrencies and promote the development of blockchain-based services

According to CryptoSlate, Panama has announced a proposed cryptocurrency bill to regulate cryptocurrencies and promote the development of blockchain-based services. The proposed bill establishes a legal framework for using digital assets, sets licensing requirements for service providers, and includes strict compliance measures that meet international financial standards. Digital assets are recognized as a legitimate means of payment, allowing individuals and businesses to freely agree on the use of digital assets in commercial and civil contracts. In addition, the bill explicitly authorizes the use of cryptocurrencies such as Bitcoin, Ethereum, and stablecoins to purchase goods, pay for services and settle debts if both parties agree.