Banking, crypto bill, Cryptocurrency, Latin America, latin america bitcoin, lawmakers, Panama, Social Security

Panamanian lawmakers will start to analyze a draft bill that seeks to regulate cryptocurrencies in the nation. Local deputy (MP) Rolando Rodríguez presented the bill to the Commerce Commission of Panama’s National Assembly.

Draft Bill’s Author: Panama Is Lagging Behind Other Countries in the Matter

According to La Estrella de Panama, the MP is advocating to pursue an agenda focused on digitalizing the Panamanian economy. He believes in the urgent need to regulate the country’s crypto environment, as the ecosystem “favors†the economy’s growth.

Rodríguez wants the bill to establish a legal framework for Panamanian companies that want to do business with digital assets, such as bitcoin (BTC). He warned how Panama is lagging behind other nations in the matter:

Incorporating Cryptos Into State-Backed Social Security Fund

Moreover, the MP clarified that the crypto bill aims to bring “financial freedom†to all the Panamanians who don’t have access to the traditional banking system.

He also expects to strengthen the nation’s social security fund and the disability, old age, and death fund (IVM) with cryptocurrencies.

The politician believes this is a pivotal time in Panama for the national legislature to adopt crypto-friendly policies. He backed up his comments by stating there is a “vast international experience†in regards to regulating the crypto industry:

What are your thoughts on Panama regulating cryptocurrencies in the future? Let us know in the comments section below.

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