Panama Has Introduced A Bill To Recognize Bitcoin, Ethereum As Payment Methods

Jae Chia
September 8, 2021
4 mins read

Central America’s bitcoin adoption is on the rise, and and Panama is the latest country to embrace cryptocurrencies.

Congressman Gabriel Silva unveiled a cryptocurrency law in draft form on Twitter. The bill explains how Panama is compatible with the digital economy, including the blockchain crypto assets and the internet.

Hoy presentamos la Ley de Cripto. Buscamos hacer a Panamá un país compatible con el blockchain, los criptoactivos y el internet.

Esto tiene el potencial de crear miles de empleos, atraer inversión y transparentar el gobierno

Pueden ver el proyecto aquí: https://t.co/6FoKdwbkwR pic.twitter.com/xDxfyS9BYI
— Gabriel Silva (@gabrielsilva8_7) September 6, 2021

The Republic of Panama is moving in the same direction as El Salvador, but has added the recognition of Ethereum as well.

El Salvador officially accepts bitcoin as legal tender

El Salvador has become the first country in the world to accept bitcoin as legal tender. On Monday evening (September 6), President Nayib Bukele announced that El Salvador had bought its first 400 bitcoins, in two tranches of 200.

Today is just the start ! Congrats to @nayibbukele and #ElSalvador ?? for making history, they surely won't be the last. #Bitcoin #BitcoinDay
— Marcelo Claure (@marceloclaure) September 7, 2021