🌐✨ Panama’s Crypto Revolution: Inside the New Bill

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In a move that would make even the most jaded of time travelers sit up and take notice, Panama has decided to wade into the digital waters by proposing a bill that would make cryptocurrency acceptance as voluntary as choosing whether or not to believe in the existence of the Sasquatch.

Imagine a world where your local coffee shop accepts Bitcoin for that overpriced latte, and you don’t even need to roll your eyes at the hipster behind the counter. That’s the Panama dream, folks.

The bill, cleverly titled “establishing a regulatory framework for cryptocurrency and blockchain usage, and promote a digital economy in Panama,” was lobbed into the legislative arena by Substitute Representative Gabriel Solis, who presumably did not arrive at the Assembly on a flying carpet.

This isn’t just about letting people pay for things with their magic internet money; it’s about defining what a “cryptocurrency” even is, which is a bit like trying to define the meaning of life but with more zeros and ones.

The bill also suggests that VASPs (Virtual Asset Service Providers) should be licensed, capitalized, and watched over by a new institution that will no doubt have a very long and impressive name. Plus, it’s all about those tax incentives, because who doesn’t love a good tax break?

And if that wasn’t enough, the bill hints at using blockchain to streamline everything from property registries to official document issuance. Because if there’s one thing we’ve learned, it’s that blockchain can solve everything. Including, but not limited to, world hunger and the common cold.

Solis, while presenting the bill, probably didn’t say, “Abra Kadabra,” but he might as well have, considering the wizardry involved in trying to make sense of the digital economy.

“We’re not talking about the future, we’re talking about the present,” Solis might have said, while simultaneously preventing a temporal paradox.

Remember that time in 2022 when Panama almost got it right with a crypto bill, but then the President was all, “Not so fast, my digital friends”? Well, this time it’s different. Maybe. We hope.

Read more: President of Panama Partially Vetoes Crypto Law Passed by National Assembly

Read more: Panamanian Crypto Bill Might Get a Second Wind in the Highest Court of the Country

If this bill passes, Panama might just leapfrog into the future, right alongside those countries that have already embraced the crypto craze. Watch this space. Or don’t. It’s a free universe.

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2025-03-27 23:28