London Daily

Focus on the big picture.
Thursday, Sep 18, 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
US Tech Giants Pledge Billions to UK AI Infrastructure Following Starmer's Call
Saudi Arabia cracks down on music ‘lounges’ after conservative backlash
DeepMind and OpenAI Achieve Gold at ‘Coding Olympics’ in AI Milestone
SEC Allows Public Companies to Block Investors from Class-Action Lawsuits
Saudi Arabia Signs ‘Strategic Mutual Defence’ Pact with Pakistan, Marking First Arab State to Gain Indirect Access to Nuclear Strike Capabilities in the Region
Federal Reserve Cuts Rates by Quarter Point and Signals More to Come
Effective and Impressive Generation Z Protest: Images from the Riots in Nepal
European manufacturers against ban on polluting cars: "The industry may collapse"
Sam Altman sells the 'Wedding Estate' in Hawaii for 49 million dollars
Trump: Cancel quarterly company reports and settle for reporting once every six months
Turkish car manufacturer Togg Enters German Market with 5-Star Electric Sedan and SUV to Challenge European EV Brands
US Launches New Pilot Program to Accelerate eVTOL Air Taxi Deployment
Christian Brueckner Released from German Prison after Serving Unrelated Sentence
World’s Longest Direct Flight China Eastern to Launch 29-Hour Shanghai–Buenos Aires Direct Flight via Auckland in December
New OpenAI Study Finds Majority of ChatGPT Use Is Personal, Not Professional
Hong Kong Industry Group Calls for HK$20 Billion Support Fund to Ease Property Market Stress
Joe Biden’s Post-Presidency Speaking Fees Face Weak Demand amid Corporate Reluctance
Charlie Kirk's murder will break the left's hateful cancel tactics
Kash Patel erupts at ‘buffoon’ Sen. Adam Schiff over Russiagate: ‘You are the biggest fraud’
Homeland Security says Emmy speech ‘fanning the flames of hatred’ after Einbinder’s ‘F— ICE’ remark
Charlie Kirk’s Alleged Assassin Tyler Robinson Faces Death Penalty as Charges Formally Announced
Actor, director, environmentalist Robert Redford dies at 89
The conservative right spreads westward: a huge achievement for 'Alternative for Germany' in local elections
JD Vance Says There Is “No Unity” with Those Who Celebrate Charlie Kirk’s Killing, and he is right!
Trump sues the 'New York Times' for an astronomical sum of 15 billion dollars
Florida Hospital Welcomes Its Largest-Ever Baby: Annan, Nearly Fourteen Pounds at Birth
U.S. and Britain Poised to Finalize Over $10 Billion in High-Tech, Nuclear and Defense Deals During Trump State Visit
China Finds Nvidia Violated Antitrust Laws in Mellanox Deal, Deepens Trade Tensions with US
US Air Force Begins Modifications on Qatar-Donated Jet Amid Plans to Use It as Air Force One
Pope Leo Warns of Societal Crisis Over Mega-CEO Pay, Citing Tesla’s Proposed Trillion-Dollar Package
Poland Green-Lights NATO Deployment in Response to Major Russian Drone Incursion
Elon Musk Retakes Lead as World’s Richest After Brief Ellison Surge
U.S. and China Agree on Framework to Shift TikTok to American Ownership
London Daily Podcast: London Massive Pro Democracy Rally, Musk Support, UK Economic Data and Premier League Results Mark Eventful Weekend
This Week in AI: Meta’s Superintelligence Push, xAI’s Ten Billion-Dollar Raise, Genesis AI’s Robotics Ambitions, Microsoft Restructuring, Amazon’s Million-Robot Milestone, and Google’s AlphaGenome Update
Le Pen Tightens the Pressure on Macron as France Edges Toward Political Breakdown
Musk calls for new UK government at huge pro-democracy rally in London, but Britons have been brainwashed to obey instead of fighting for their human rights
Elon Musk responds to post calling for the murder of Erika Kirk, widow of Charlie Kirk: 'Either we fight back or they will kill us'
Czech Republic signs €1.34 billion contract for Leopard 2A8 main battle tanks with delivery from 2028
USA: Office Depot Employees Refused to Print Poster in Memory of Charlie Kirk – and Were Fired
Proposed U.S. Bill Would Allow Civil Suits Against Judges Who Release Repeat Violent Offenders
Penske Media Sues Google Over “AI Overviews,” Claiming It Uses Journalism Without Consent and Destroys Traffic
Indian Student Engineers Propose “Project REBIRTH” to Protect Aircraft from Crashes Using AI, Airbags and Smart Materials
French Debt Downgrade Piles Pressure on Macron’s New Prime Minister
US and UK Near Tech, Nuclear and Whisky Deals Ahead of Trump Trip
One in Three Europeans Now Uses TikTok, According to the Chinese Tech Giant
Could AI Nursing Robots Help Healthcare Staffing Shortages?
NATO Deploys ‘Eastern Sentry’ After Russian Drones Violate Polish Airspace
Anesthesiologist Left Operation Mid-Surgery to Have Sex with Nurse
Tens of Thousands of Young Chinese Get Up Every Morning and Go to Work Where They Do Nothing
×