Panama's president Laurentino Cortizo might take some of the articles passed in the cryptocurrency bill and approve them as law, and veto other parts of the bill.
during its discussion, establishes pivotal concepts about crypto, blockchain, and virtual asset service providers.In addition to this, the approved version of the bill introduces blockchain as a tool to improve the transparency of state spending, like other projects introduced already in Latam. This would include the progressive migration of public records to the blockchain.
Another important proposal of the bill is the digitalization of the identification process, with issued IDs being published on a public blockchain. Cortizo might take some of the articles passed and make them law, and veto other parts of the bill. To conclude, Cortizo stated:It is an innovative law from what I have heard, it’s a good law. However, we do have a solid financial system here in Panama and one of the things I’m waiting on is when you have a global regulation of crypto-assets.
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