LatinNews Daily - 09 September 2021

* An independent legislator, Gabriel Silva, has introduced a legislative bill which would regulate the use of cryptocurrency within Panama, recognising bitcoin as a national alternative payment method. In a tweet Silva said “Today we present the Crypto Law. We seek to make Panama a country compatible with blockchain, crypto assets, and the internet. This has the potential to create thousands of jobs, attract investment and make the government transparent.” The proposed bill would recognise digital assets as an alternative global payment method and allows for any civil or commercial operation to use cryptocurrency. This follows the recent entry into effect of a new law in El Salvador which implements the cryptocurrency bitcoin as legal tender alongside the US dollar, the country’s official currency. However, unlike in El Salvador, which requires businesses to accept Bitcoin as means of payment, Silva’s proposed bill would not make it obligatory to accept cryptocurrencies. Authorities from the central banks of Honduras and Guatemala have also reportedly said that the banks were studying digital currencies with the aim of eventually introducing them into the economy.

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