On 6 September 2021, the National Assembly of Panama introduced Bill No. 697, dubbed the "crypto bill". Presented by Congressman Gabriel Silva, 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.
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