London Daily

Focus on the big picture.
Monday, Sep 01, 2025

Panama Proposes Bill to Regulate Bitcoin as Alternative Payment Method

Panama Proposes Bill to Regulate Bitcoin as Alternative Payment Method

As El Salvador's bitcoin law became reality, Panama has proposed a new bill that would give bitcoin an alternative payment method status in the country.

As cryptocurrencies are becoming more and more mainstream globally, a new bill has been submitted in the Republic of Panama to recognize Bitcoin (BTC) and other digital currencies as alternative payment methods.

Panama’s Crypto Bill

Congressman Gabriel Silva explained on Twitter that the new bill would enable the freedom to use cryptocurrencies in the Central American country.

The bill has been prepared by different parties, including Panamanians, industry, and technology experts, according to congressman Silva. He also pointed out that the legislation is in line with established policies set by the Financial Action Task Force (FATF).

The new bill is established to make the country compatible with cryptocurrencies, blockchain technology, and the internet, Silva said.

Going forward, he strongly believes that approval of the bill would contribute positively to the creation of thousands of jobs, attract foreign investments in Panama, and also foster transparency in government activities.

The new bill would foster innovation and expand the country’s financial services beyond its current state, assuming Panama recognizes Bitcoin as an alternative global payment method that can be used for commercial and civil operations.

The bill wants cryptocurrencies to be recognized as an alternative payment method because the asset class is focused on providing efficient, fast, and low-cost settlements across borders, compared to the existing traditional banking where a transaction takes days and is expensive.

El Salvador’s Bitcoin Adoption

The development comes as El Salvador became the first country, 7 September in the world to accept Bitcoin as a legal tender.

Even though, Panama’s cryptocurrency bill was influenced by El Salvador’s adoption of Bitcoin as a legal tender, the the new bill initiative takes a different approach from what the El Salvadoran government offers.

El Salvador’s law made it mandatory for businesses within its jurisdiction to accept Bitcoin and the United States Dollar (USD) as the two forms of payments.

However, Panama’s new bill only seeks the freedom to use Bitcoin and other cryptocurrencies like they would use the country’s official fiats.

Latin American Countries Plan to Regulate Crypto
Over the years, cryptocurrencies have grown from an insignificant asset class to a force to reckon with, prompting regulators to consider regulating them.

The need to recognize cryptocurrencies became more pressing for Latin American countries after El Salvador took a major step in adopting Bitcoin as a legal tender.

Meanwhile, a cryptocurrency bill was presented to the National Congress of Paraguay in a bid to establish an attractive regulatory environment for crypto-assets and the industry at large.

Source: Panama Proposes Bill to Regulate Bitcoin as Alternative Payment Method – Fintechs.fi

Newsletter

Related Articles

0:00
0:00
Close
Chinese and Indian Leaders Pursue Amity Amid Global Shifts
European Union Plans for Ukraine Deployment
ECB Warns Against Inflation Complacency
Concerns Over North Cyprus Casino Development
Shipping Companies Look Beyond Chinese Finance
Rural Exodus Fueling European Wildfires
China Hosts Major Security Meeting
Chinese Police Successfully Recover Family's Savings from Livestream Purchases
Germany Marks a Decade Since Migrant Wave with Divisions, Success Stories, and Political Shifts
Liverpool Defeat Arsenal 1–0 with Szoboszlai Free-Kick to Stay Top of Premier League
Prince Harry and King Charles to Meet in First Reunion After 20 Months
Chinese Stock Market Rally Fueled by Domestic Investors
Israeli Airstrike in Yemen Kills Houthi Prime Minister
Ukrainian Nationalist Politician Andriy Parubiy Assassinated in Lviv
Corporate America Cuts Middle Management as Bosses Take On Triple the Workload
Parents Sue OpenAI After Teen’s Death, Alleging ChatGPT Encouraged Suicide
Amazon Faces Lawsuit Over 'Buy' Label on Digital Streaming Content
Federal Reserve Independence Questioned Amid Trump’s Push to Reshape Central Bank
British Politics Faces Tumultuous Autumn After Summer of Rebellions and Rising Farage Momentum
US Appeals Court Rules Against Most Trump-Era Tariffs
UK Sought Broad Access to Apple Users’ Data, Court Filing Reveals
UK Bank Shares Dive Over Potential Tax on Sector
Germany’s Auto Industry Sheds 51,500 Jobs in First Half of 2025 Amid Deepening Crisis
Bruce Willis Relocated Due to Advanced Dementia
French and Korean Nuclear Majors Clash As EU Launches Foreign Subsidy Probe
EU Stands Firm on Digital Rules as Trump Warns of Retaliation
Getting Ready for the 3rd Time in Its History, Germany Approves Voluntary Military Service for Teenagers
Argentine President Javier Milei Evacuated After Stones Thrown During Campaign Event
Denmark Confronts U.S. Diplomat Over Covert Trump-Linked Influence in Greenland
Starmer Should Back Away from ECHR, Says Jack Straw
Trump Demands RICO Charges Against George Soros and Son for Funding Violent Protests
Taylor Swift Announces Engagement to NFL Star Travis Kelce
France May Need IMF Bailout, Warns Finance Minister
Chinese AI Chipmaker Cambricon Posts Record Profit as Beijing Pushes Pivot from Nvidia
After the Shock of Defeat, Iranians Yearn for Change
Ukraine Finally Allows Young Men Aged Eighteen to Twenty-Two to Leave the Country
The Porn Remains, Privacy Disappears: How Britain Broke the Internet in Ten Days
YouTube Altered Content by Artificial Intelligence – Without Permission
Welcome to The Definition of Insanity: Germany Edition
Just a reminder, this is Michael Jackson's daughter, Paris.
Spotify’s Strange Move: The Feature Nobody Asked For – Returns
Manhunt in Australia: Armed Anti-Government Suspect Kills Police Officers Sent to Arrest Him
China Launches World’s Most Powerful Neutrino Detector
How Beijing-Linked Networks Shape Elections in New York City
Ukrainian Refugee Iryna Zarutska Fled War To US, Stabbed To Death
Elon Musk Sues Apple and OpenAI Over Alleged App Store Monopoly
2 Australian Police Shot Dead In Encounter In Rural Victoria State
Vietnam Evacuates Hundreds of Thousands as Typhoon Kajiki Strikes; China’s Sanya Shuts Down
UK Government Delays Decision on China’s Proposed London Embassy Amid Concerns Over Redacted Plans
A 150-Year Tradition to Be Abolished? Uproar Over the Popular Central Park Attraction
×