Monday, June 2, 2025
No Result
View All Result
CONTACT
First Crypto News
  • News
  • Bitcoin
  • Ethereum
  • Industry
  • Market Updates
  • Price
  • Coins
  • Press Release
  • News
  • Bitcoin
  • Ethereum
  • Industry
  • Market Updates
  • Price
  • Coins
  • Press Release
No Result
View All Result
First Crypto News
No Result
View All Result

Just-In: Panama Plans to Legalize Bitcoin (BTC) and Ethereum (ETH)

by firstcryptonews
September 8, 2021
in Industry
Just-In: Panama Plans to Legalize Bitcoin (BTC) and Ethereum (ETH)

Panama is reportedly working on a crypto regulation that might legalize Bitcoin ($BTC) and Ethereum ($ETH) as legal modes of payment. Panamanian Congressman Gabriel Silva took to Twitter to announce that they have introduced a Crypto Law in the parliament in hopes of making the country compatible with blockchain and crypto assets and bringing more transparency into governance. A translation of the congressman’s tweet read,

“Today we present the Crypto Law. We seek to make Panama a country compatible with the blockchain, crypto assets, and the internet. This has the potential to create thousands of jobs, attract investment and make the government transparent.”

Silva also shared the draft bill along with the tweet which plans to make Bitcoin and Ethereum alternative modes of transaction in the country. The draft bill makes note of crypto advantages such as fast mode of payment and cheaper transaction cost. The acceptance of these crypto-assets would depend on the retailer as there is no mandatory acceptance. Some of the key highlights of the Crypto Bill includes,

Give legal certainty to crypto-asset transactions in Panama
Encourage the use of blockchain technology in the public sector
Creation of licenses to promote ventures related to digital technology and “blockchain”
Attract foreign companies

Make the “blockchain” compatible with traditional financial institutions such as banking
Has El Salvador’s Bitcoin Adoption Created a Domino Effect?
El Salvador created history as Bitcoin ($BTC) became a legal tender in the country today. The small Central American nation has passed the Bitcoin bill in June making it a law. The country is celebrating September 7 as “Bitcoin Day.” The country has added 400 BTC worth $21 million to their treasury as well making them the only country to do so.

El Salvador’s Bitcoin adoption might have triggered a domino effect as more financially challenged and small nations look to experiment with the top cryptocurrency. Before Panama, a few other nations have also shared their interest in using Bitcoin as a form of payment including Argentina and Colombia.

Related Posts

UK Inflation Sees Sharp Drop in July as Core and Services Show Mixed Trends

UK Inflation Sees Sharp Drop in July as Core and Services Show Mixed Trends

by firstcryptonews
August 17, 2023
0

While the easing of headline inflation is welcome news for consumers, experts are paying closer attention to the underlying trends....

Ex CFTC Chair says Bitcoin ETF would be good for investors and regulators

Ex CFTC Chair says Bitcoin ETF would be good for investors and regulators

by firstcryptonews
July 8, 2021
0

Timothy Massad, former chairman of Commodity Futures Trading Commission (CFTC) has become the latest US regulatory executive to advocate for...

SEC Chair Gary Gensler Testify on GameStop Trading Saga, Talks About Regulating Crypto Market

SEC Chair Gary Gensler Testify on GameStop Trading Saga, Talks About Regulating Crypto Market

by firstcryptonews
May 9, 2021
0

SEC chairman Gary Gensler along with several other financial experts testified before the Financial Services Committee about the recent GameStop...

This is what some economists are getting wrong about Bitcoin

This is what some economists are getting wrong about Bitcoin

by firstcryptonews
March 17, 2021
0

The intrinsic value of an asset determines its long-term existence in the market. The ‘spicy’ flavor is the intrinsic value...

Twitter CEO Jack Dorsey extends Bitcoin emoji until the year 3000

Twitter CEO Jack Dorsey extends Bitcoin emoji until the year 3000

by firstcryptonews
January 6, 2021
0

Jack Dorsey, the CEO of Twitter, officially confirmed on Twitter that the platform has extended the Bitcoin emoji until the...

Why XRP dropped 24% in 2 hours after a massive relief rally

Why XRP dropped 24% in 2 hours after a massive relief rally

by firstcryptonews
December 26, 2020
0

The XRP price has declined by 24% in the past hour on Binance after Bitstamp released its statement. In light...

Next Post
El Salvador Creates History by Integrating Bitcoin as Legal Tender, Buys $21 Million in BTC

El Salvador Creates History by Integrating Bitcoin as Legal Tender, Buys $21 Million in BTC

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Jason Eastman Joins CV5 Capital, Strengthening Leadership in Digital Asset Funds and Cybersecurity

Jason Eastman Joins CV5 Capital, Strengthening Leadership in Digital Asset Funds and Cybersecurity

3 weeks ago
Cardano’s Winning Streak Continues As ADA Overtakes Litecoin To Become Seventh-Largest Crypto

Cardano’s Winning Streak Continues As ADA Overtakes Litecoin To Become Seventh-Largest Crypto

5 years ago
‘Unique Setup’- Top Analyst Explains Why Bitcoin May Not Rally Pre-Halving Like Last Time

‘Unique Setup’- Top Analyst Explains Why Bitcoin May Not Rally Pre-Halving Like Last Time

6 years ago
Bitcoin Remains Below $12K But Hash Rate Hits New Milestone

Bitcoin Remains Below $12K But Hash Rate Hits New Milestone

6 years ago
Filipino Tech Pioneer Debuts Fandom Innovations at Largest Web3 Conference in SEA

Filipino Tech Pioneer Debuts Fandom Innovations at Largest Web3 Conference in SEA

3 years ago
Rise of Defiance: Empowering Change with $DDD

Rise of Defiance: Empowering Change with $DDD

6 months ago

First Crypto News

First Crypto News

First Crypto News is the Fastest Crypto News Portal. We Bring the Best and We Bring it Fast.

Bitcoin

Amid Chinese Crackdown, America’s Foundry USA Mining Pool Enters Top Ten Spot

Amid Chinese Crackdown, America’s Foundry USA Mining Pool Enters Top Ten Spot

June 21, 2021

Recent News

AGII Powers Predictive Logic Engines to Strengthen Blockchain Automation Accuracy

AGII Powers Predictive Logic Engines to Strengthen Blockchain Automation Accuracy

June 2, 2025

Press Release

MoonLad Launches: A Meme Token with Purpose, Utility, and Community on the Solana Blockchain

MoonLad Launches: A Meme Token with Purpose, Utility, and Community on the Solana Blockchain

May 31, 2025

© 2020 First Crypto News

No Result
View All Result
  • Home
  • World
  • Science
  • Tech

© 2020 First Crypto News