Panama: Adopted crypto bill regulating commercialization and use of crypto assets

On 28 April 2022, the National Assembly of Panama approved Bill No. 697, also called the "crypto bill". The bill regulates the commercialization and use of crypto assets, providing the legal basis for private and public actors to use cryptocurrencies for payments, including for tax payments. The bill indicates a non-exhaustive list of cryptocurrencies that can be used among which there are Bitcoin, Ethereum, XRP, Litecoin, XDC Network, Elrond, Stellar, IOTA, and Algorand.