A subcommittee has ten days to show a report on the consultation. Many deputies introduced projects to regulate cryptocurrencies.
Deputies of the National Assembly of Panama will start a debate in a subcommittee, two bills for regulation of bitcoin and cryptocurrencies.
The Assembly on the social network highlighted through their official Twitter account that a sub-commission got created to unify criteria regarding regulative measures for the use of cryptocurrencies as payment methods and other vital details related to blockchain technology in Panama.
The working group must respond to the Trade and Economic Affairs Commission within ten business days with a report showing the conclusions of the discussions.
One of the projects that will get evaluated was the one presented by Deputy Cenobia Vargas. According to local media, during her speech in the Assembly, Cenobia highlighted that the law intends to spread cryptocurrencies as a means of payment in the Panamanian population.
In that sense, she warned that the one who does not adjust would stay. In her opinion, some people said they did not like WhatsApp but stated that now even her grandmother sends messages.
A BIll with Eight Chapters and 31 Articles to Regulate Cryptocurrencies
Vargas unveiled the bill last August. The document, which contains at least eight chapters and 31 articles, among other things, refers to tax issues, measures to counter money laundering, technical training, digital asset mining, and freedom for banks to build new business models with cryptocurrencies.
In Panama, there has been an attempt to include the issuance of cryptocurrencies from the regulatory point of view.
The most recent case was the project led by Deputy Gabriel Silva, which is a plan that will also become a discussion in the subcommittee. The legislator introduced a draft law to favor the regulation of bitcoin and other cryptocurrencies in that country last September.
The independent deputy of the Assembly of Panama, Gabriel Silva, introduced this Monday, September 6, a draft law for the regulation of bitcoin and other cryptocurrencies in that country.
Silva, who announced the news on Twitter, highlighted that the first goal of the law is quite simple; it intends to give certainty and legal security in Panama to crypto assets, such as cryptocurrencies.
On the other hand, besides attracting investors and entrepreneurs who focus on the digital economy, the proposed law intends to expand the number of financial services offered in Panama, according to the deputy.
In the explanatory statement on the project, Silva points out that this law would encourage financial inclusion. Panama has only 46.5% of its population with transactional bank accounts. This percentage is lower than the regional average of 54.4% and much lower than the global average of 68% ”.
Silva explained that her main goal with this project was to give certainty and legal security in Panama to crypto-assets and attract investors and entrepreneurs who focus on the digital economy.
By: Jenson Nuñez
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