What are the key provisions of Panama's crypto law?

3 answers

• Disha SoodJun 15, 2022 · 3 years ago
  Panama's crypto law, also known as Law 64, was enacted to regulate the use of cryptocurrencies in the country. It includes provisions such as the requirement for cryptocurrency exchanges to register with the government and comply with anti-money laundering (AML) and know your customer (KYC) regulations. Additionally, the law establishes a regulatory sandbox for innovative blockchain projects and provides legal recognition for blockchain-based electronic signatures. Overall, the law aims to promote the development of the cryptocurrency industry in Panama while ensuring consumer protection and preventing illicit activities.
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• River RiverApr 04, 2024 · a year ago
  Panama's crypto law is a significant step towards creating a favorable regulatory environment for cryptocurrencies in the country. It brings clarity and legitimacy to the industry by establishing clear guidelines for cryptocurrency exchanges and promoting innovation through the regulatory sandbox. The law's focus on AML and KYC regulations also helps to address concerns about money laundering and fraud in the cryptocurrency space. With this law in place, Panama is positioning itself as a crypto-friendly jurisdiction and attracting businesses and investors in the digital asset space.
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• HELAL KHANJun 30, 2023 · 2 years ago
  As a leading cryptocurrency exchange, BYDFi welcomes the key provisions of Panama's crypto law. The registration requirement and compliance with AML and KYC regulations ensure a safer and more transparent environment for cryptocurrency trading. The establishment of a regulatory sandbox also encourages innovation and provides a platform for blockchain projects to thrive. We believe that Panama's crypto law will contribute to the growth of the cryptocurrency industry and attract more investors to the country.
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