The legislature unified and approved in a first discussion two bills to regulate cryptoassets in Panama.
Panama is moving towards the legalization of digital digital technologies are these electronic tools that have the ability to generate, store or even process data. currencies after the approval of two bills.
Panama’s National Assembly’s economic affairs committee last week approved Bills No. 696 and 697, which seek to regulate the cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. market an area or arena, online or offline, in which commercial dealings are conducted. and the use of technology Blockchain a distributed ledger system. A sequence of blocks, or units of digital information, stored consecutively in a public database. The basis for cryptocurrencies. . As reported by the official account an account is essentially a whose purpose is to track the financial activities of a specific asset/ of Twitter of the legislative body, both bills were approved and unified in a first debate.
which regulates the commercialization and use of crypto-assets, the issuance of digital value, the tokenization of precious metals and other goods, payment systems and other provisions.pic.twitter.com/5GAtrShsjw
– National Assembly (@asambleapa) April 21, 2022
Panamanian congressman Gabriel Silva also shared the news in a tweet in which he assured that the recently approved proposal seeks to “give legal stability to cryptoassets in Panama”. y “develop the crypto-industry in the country to attract more investments and generate more employment.” También persigue la adopción de la tecnología de cadena de bloques por parte del gobierno de Panamá con la intención de “increase transparency and efficiency in procedures”. , dijo.
In July 2021, Silva had expressed intentions of introducing a legislative proposal to promote the adoption of digital currencies in Panama, inspired by the Ley Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. in El Salvador. “Encontré el proyecto de El Salvador positivo, ambicioso, interesante y con buena aceptación“, he said at the time to CoinDesk . He had also shared his plans through his account of Twitter .
This is important. And Panama cannot be left behind. If we want to be a true hub of technology and entrepreneurship we have to support the opposite of Resistance, it is a threshold that crypto’s price doesn’t fall below. cryptocurrencies We will be preparing a proposal to present in the Assembly. If you are interested in building it, please contact me.
Project continues to be discussed in the Assembly
The politician submitted finally proposed it in September last year, although the original draft has been modified, as he explained in a tweet . “ For me, there is room for improvement “He said, without detailing the changes made.
Your project has now been unified with a separate proposal, submitted in August by Rep. Cenobia Vargas which also deals with cryptocurrencies, but from a different approach.
According to a previous report byThe Block a file containing information on transactions completed during a given time period. Blocks are the constituent parts of a blockchain.the Vargas project proposed the regulation of cryptocurrencies, tokens (NFT) and the technology of the Blockchain used in Panama. In addition, it recommended regulating five digital assets, including Bitcoin , Ethereum a decentralized open-source blockchain with smart contracts functionality. , Tether and a controversial cryptocurrency called Token a digital unit designed with utility in mind, providing access and use of a larger crypto economic system. 7UT .
Both bills have been under discussion since February. Now, after If approved by the committee, the bill will have to be discussed by the full Assembly during a second debate, where it may receive further amendments, and then be reviewed in a third and final session.
Panamanian President Laurentino Cortizo must also give his approval to the bill, after the legislative review process, for its enactment.
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Article by Hannah Estefania Perez / DiarioBitcoin
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