Weekly Report - 05 May 2022 (WR-22-18)

Moving on cryptocurrency

Panama’s legislature last week approved a bill regulating the use and commercialisation of crypto assets. The move, which follows El Salvador’s adoption in September 2021 of the cryptocurrency bitcoin as legal tender, has similarly raised fears about transparency, not least given that Panama remains on various grey lists of non-cooperative tax regimes and practices exposed in massive data leaks - Panama Papers in 2016, Paradise Papers in 2017, and Pandora Papers in 2021.

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