• News
    • Bitcoin
    • Altcoins
  • NFT
  • Metaverse
  • Analysis
  • Regulation
  • Learn
  • Market Cap
What's Hot

FTX Founder Sam Bankman-Fried Pleads Not Guilty to New Charges, Including Bribery of Chinese Officials: Report

2023-03-31

XRP Perpetual Futures Open Interest skyrockets to $610 million

2023-03-31

CNBC’s Jim Cramer calls Binance “way too sketchy”

2023-03-31
Facebook Twitter Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
Facebook TikTok Instagram YouTube
CryptoNewsMetaverse
  • News
    • Bitcoin
    • Altcoins
  • NFT

    U.S. IRS Considers Taxing NFTs Like Other Collectibles

    2023-03-21

    Meta Shuts Down NFT Project to Focus on FinTech and Content

    2023-03-14

    Solana’s Solend V2 Release, Is SOL Price $50 Next?

    2023-03-06

    Amazon NFT Marketplace To Reportedly Launch Next Month

    2023-03-06

    Blur Coin Under Fire As Allegations Of Wash Trading Emerge

    2023-03-01
  • Metaverse

    Siemens and MIT Tech Review Probe ‘The Emergent Industrial Metaverse’

    2023-03-30

    Disney Metaverse Division Reportedly Scrapped

    2023-03-28

    Animoca Denies $200M Metaverse Fund Cut

    2023-03-27

    Metaverse Trading Hits All-Time High

    2023-03-24

    Exploring the Metaverse: A Guide to Investing in Metaverse Stocks

    2023-03-20
  • Analysis

    DOJ Officially Seizes Over $456,000,000 Worth of Robinhood Shares Tied to FTX Founder Sam Bankman-Fried

    2023-01-08

    Mark Cuban Makes Prediction on Next Crypto ‘Scandal,’ Warns of Potential Implosion if Exposed: Report

    2023-01-08

    Binance Listings Cause Crypto Assets To Spike an Average of 41%: New Research

    2023-01-08

    Bitcoin Whales Unloaded BTC As Market Reversed and Parked Their Profits in This Crypto Asset Class: Santiment

    2023-01-07

    Crypto Analyst Predicts Breakout for AI-Focused Altcoin, Updates Outlook on Ethereum and Lido DAO

    2023-01-07
  • Regulation

    FTX Founder Sam Bankman-Fried Pleads Not Guilty to New Charges, Including Bribery of Chinese Officials: Report

    2023-03-31

    XRP Perpetual Futures Open Interest skyrockets to $610 million

    2023-03-31

    CNBC’s Jim Cramer calls Binance “way too sketchy”

    2023-03-31

    Bitcoin reclaims $28k despite potential regulatory woes from Binance lawsuit

    2023-03-31

    Binance daily withdrawals double as users report problems off-ramping

    2023-03-31
  • Learn

    Best Bitcoin Mining Software — TOP Crypto Miners to Use in 2023

    2023-03-30

    Next Cryptocurrency to Explode 2023

    2023-03-30

    Chart Patterns Cheat Sheet For Technical Analysis

    2023-03-21

    Best NFT Wallets in 2023

    2023-03-21

    What are Dapps (Decentralized Applications) Crypto?

    2023-03-17
  • Market Cap
CryptoNewsMetaverse
Home»Regulation»Panama’s Supreme Court to rule on cryptocurrency legislation
Regulation

Panama’s Supreme Court to rule on cryptocurrency legislation

2023-01-30No Comments2 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email

Panama’s crypto bill saga has reached a new chapter, with the country’s Supreme Court set to decide the future of the local crypto industry.

Panamanian President Laurentino Cortizo on Jan. 26 sent the crypto legislation passed last year to the high court for review, claiming the so-called “crypto bill” violates the constitution’s core principles and is unenforceable.

The Supreme Court must now decide whether to declare Bill No. 697 unenforceable or to approve it with modifications.

According to an official statement, the president’s office considers articles 34 and 36 of the bill unenforceable because they violate the state’s separation of powers and establish administrative structures within the government.

President Cortizo also argued that the bill had been approved through an inadequate procedure following his partial veto of the legislation in June. At the time, the president argued that the bill needed more work to comply with new regulations recommended by the Financial Action Task Force aimed at improving fiscal transparency and preventing money laundering.

Related: The 5 most important regulatory developments for crypto in 2022

A dispute between Panama’s National Assembly and the government has centered on this bill. In April, Panama lawmakers passed a legislative proposal aiming to regulate cryptocurrencies in the country, including Bitcoin. President Cortizo, however, warned a few weeks later that he wouldn’t sign it unless it included additional Anti-Money Laundering (AML) rules.

The bill was introduced in September 2021, aiming to make the country “compatible with the digital economy, blockchain, crypto assets and the internet.” It was moved out of the Economic Affairs Committee on April 21 and approved a few days later.

Based on the legislation, Panamanians “may freely agree on the use of crypto assets, including without limitation Bitcoin and Ethereum” as an alternative payment for “any civil or commercial operation.”

Furthermore, the bill would regulate the tokenization of precious metals and the issuance of digital value. Digitization of identity using blockchain or distributed ledger technology would also be explored by the government’s innovation authority.

Source link

Court Cryptocurrency Legislation Panamas Rule Supreme
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

FTX Founder Sam Bankman-Fried Pleads Not Guilty to New Charges, Including Bribery of Chinese Officials: Report

2023-03-31

XRP Perpetual Futures Open Interest skyrockets to $610 million

2023-03-31

CNBC’s Jim Cramer calls Binance “way too sketchy”

2023-03-31

Bitcoin reclaims $28k despite potential regulatory woes from Binance lawsuit

2023-03-31
Add A Comment

Leave A Reply Cancel Reply

Top Posts

MakerDAO’s actions against Aave had these repercussions on the DeFi platform

2022-06-18

Ethereum Price Breaks Hurdle, Why Bulls Could Aim $1,500 or Higher

2022-10-05

South Korean Prosecutors To Arrest Do Kwon’s Aid In The Terra-LUNA Crisis

2022-10-06

Subscribe to Updates

Get the latest news and Update from Cryptonewsmetaverse.com about Crypto, Metaverse and NFT.

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, NFT, Metaverse and more.

We're social. Connect with us:

Facebook Instagram YouTube TikTok
Top Insights

FTX Founder Sam Bankman-Fried Pleads Not Guilty to New Charges, Including Bribery of Chinese Officials: Report

2023-03-31

XRP Perpetual Futures Open Interest skyrockets to $610 million

2023-03-31

CNBC’s Jim Cramer calls Binance “way too sketchy”

2023-03-31
Get Informed

Subscribe to Updates

Get the latest news and Update from Cryptonewsmetaverse.com about Crypto, Metaverse and NFT.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
© 2023 Cryptonewsmetaverse.com. Designed by ProdigitalX.

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$28,477.001.23%
  • ethereumEthereum(ETH)$1,823.101.58%
  • USDEXUSDEX(USDEX)$1.07-0.53%
  • tetherTether(USDT)$1.000.14%
  • binancecoinBNB(BNB)$316.64-0.14%
  • usd-coinUSD Coin(USDC)$1.000.08%
  • rippleXRP(XRP)$0.540.78%
  • cardanoCardano(ADA)$0.4041177.13%
  • Lido Staked EtherLido Staked Ether(STETH)$1,818.211.57%
  • dogecoinDogecoin(DOGE)$0.0768282.51%