Panama: Partial veto of crypto bill by the Panamanian President

On 17 June 2022, the President of Panama Cortizo partially vetoes Bill No. 697 (crypto bill). Referring to the lack of Anti-Money Laundering (AML) rules and the necessity to follow the recommendations of the Financial Action Task Force, the President decided to return the legislation to the National Assembly. The bill aims at regulating 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.