{"id":464230,"date":"2022-06-17T08:49:28","date_gmt":"2022-06-17T05:49:28","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/president-of-panama-shoots-down-crypto-bill-citing-fatf-guidelines\/"},"modified":"2022-06-17T08:49:28","modified_gmt":"2022-06-17T05:49:28","slug":"president-of-panama-shoots-down-crypto-bill-citing-fatf-guidelines","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/president-of-panama-shoots-down-crypto-bill-citing-fatf-guidelines\/","title":{"rendered":"# President of Panama shoots down crypto bill citing FATF guidelines"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3a597b931db\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3a597b931db\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/president-of-panama-shoots-down-crypto-bill-citing-fatf-guidelines\/#%E2%80%9D_President_of_Panama_shoots_down_crypto_bill_citing_FATF_guidelines_%E2%80%9C\" >&#8221; President of Panama shoots down crypto bill citing FATF guidelines &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_President_of_Panama_shoots_down_crypto_bill_citing_FATF_guidelines_%E2%80%9C\"><\/span>&#8221; President of Panama shoots down crypto bill citing FATF guidelines &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDYvYWFhNjM3MmUtYTM4Mi00M2QzLTkxMzYtZDIyNmIzNDBmZmM1LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-2a0745c6>Panama\u2019s President Laurentino Cortizo has partially vetoed Bill No. 697 dubbed the \u201ccrypto bill\u201d saying it requires more work to better fit Panama\u2019s financial regulations.<\/p>\n<p>President Cortizo previously warned in May he wouldn\u2019t sign the bill unless it included additional Anti-Money Laundering rules after Panama\u2019s National Assembly passed the crypto bill in late April 2022.<\/p>\n<p>Local <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a> outlet La Prenda obtained a copy of the 32-page veto, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.prensa.com\/economia\/cortizo-veta-parcialmente-el-proyecto-de-ley-que-regula-los-criptoactivos\/\">reporting<\/a> the President wrote it&#8217;s \u201cimperative\u201d the cryptocurrency laws conform to new regulations recommended by the Financial Action Task Force (FATF) outlining \u201cfiscal transparency and prevention of money laundering\u201d.<\/p>\n<p>President Cortizo has previously described the legislation as an \u201cinnovative law\u201d, and indicated <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roval of certain aspects of the bill, but has said possible illicit uses of cryptocurrencies needed addressing.<\/p>\n<p>Congressman Gabriel Silva who helped introduce the bill in September 2021 tweeted on June 16 that (according to a translation) the veto was \u201ca lost opportunity to generate jobs, attract investment and incorporate <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a> and innovation in the public sector.\u201d <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"es\" dir=\"ltr\">El Presidente acaba de vetar parcialmente el proyecto de Ley de Crypto<\/p>\n<p>Una oportunidad perdida para generar empleos, atrae inversi\u00f3n e incorporar tecnolog\u00eda e innovaci\u00f3n en el sector p\u00fablico<\/p>\n<p>El pa\u00eds merece m\u00e1s oportunidades y tambi\u00e9n inclusi\u00f3n financiera (1\/2)<\/p>\n<p>\u2014 Gabriel Silva (@gabrielsilva8_7) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/gabrielsilva8_7\/status\/1537496339646500866?ref_src=twsrc%5Etfw\">June 16, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n\u201cThe country deserves more opportunities and financial inclusion,\u201d Silva added, saying Congress will study the veto to make corrections which will then be passed through to debates.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Top 30 Panama Bank is \u2018Bitcoin friendly,\u2019 welcomes crypto services<\/em><\/strong><\/p>\n<p>If the bill is eventually signed it will make Panama the second Central American country to regulate the spending of cryptocurrencies. The nearby country of El Salvador was famously the first country to make Bitcoin (BTC) a legal tender.<\/p>\n<p>Unlike El Salvador however, Panama\u2019s bill covers other cryptocurrencies besides Bitcoin and wouldn\u2019t require local businesses to accept digital assets.<\/p>\n<p>According to the bill Panamanians \u201cmay freely agree on the use of crypto assets, including without limitation Bitcoin and Ethereum (ETH)\u201d as an alternative payment for \u201cany civil or commercial operation\u201d.<\/p>\n<p>The bill would also cover the issuance of digital value and regulate the tokenization of such things as precious metals. A digitization of identity using blockchain or distributed ledger technology would also be researched by the government\u2019s innovation authority.<\/p>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/president-of-panama-shoots-down-crypto-bill-citing-fatf-guidelines\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; President of Panama shoots down crypto bill citing FATF guidelines &#8220; Panama\u2019s President Laurentino Cortizo has partially vetoed Bill No. 697 dubbed the \u201ccrypto bill\u201d saying it requires more work to better fit Panama\u2019s financial regulations. President Cortizo previously warned in May he wouldn\u2019t sign the bill unless it included additional Anti-Money Laundering rules&#8230;<\/p>\n","protected":false},"author":1,"featured_media":464231,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDYvYWFhNjM3MmUtYTM4Mi00M2QzLTkxMzYtZDIyNmIzNDBmZmM1LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74859,74858,79096,76853,75700,70301,90059,55229,33897,70934],"class_list":["post-464230","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-aml","tag-bitcoin-regulation","tag-fatf","tag-latin-america","tag-panama","tag-bills","tag-el-salvador","tag-law","tag-money-laundering","tag-regulation"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/464230","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=464230"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/464230\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/464231"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=464230"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=464230"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=464230"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}