May 25, 2022

Panama allows paying taxes with cryptocurrencies

The National Assembly of the country approved a bill regulating the use of digital assets.

AT Panama was allowed to pay taxes in cryptocurrencies, andalso legalized trade and their use, the issuance of digital securities and the launch of new payment systems. The corresponding bill was approved by the National Assembly (unicameral parliament) on Thursday, writes Reuters.

“There are many different typescrypto assets, which, for example, include works of art. Therefore, we did not want to be limited only to cryptocurrencies, ”said the author of the bill, Gabriel Silva.

According to the new law, citizens of Panama will be able to use crypto assets to pay for various transactions and goods that are legal in the country.