Panama Pushing to Move a Crypto Bill Forward, Bitcoin Adoption Expected Similar to El Salvador

Sahaj  |  Aug 31, 2021

As revealed recently, some people in Panama are making efforts to move a crypto bill forward as they work to overcome fear and uncertainty from the majority in Congress and the general population. Since El Salvador passed their bill legalizing Bitcoin, the entire crypto community was waiting for the moment to witness the second country to follow El Salvador. 

Panama to Pass a Crypto Bill, Bitcoin Adoption Possible

Panama, reportedly, could be the second country to pass the Bitcoin bill and this El Salvador-like move of Panama will be laying a great impact globally.

An independent deputy in Congress, Gabriel Silva, was all over the headlines by stating that he would introduce a Bitcoin bill shortly after El Salvador passed their bill.

Back in the month of June, Silva began a Telegram group open to the public to allows Panamanians to help shape the bill to their liking. One of the Panamanians said:

“Never doubt that a small group of thoughtful, committed citizens can change the world: indeed, it's the only thing that ever has.”

Interview With @ABELITOPANAMA and Joseph Isaza

When AP was asked when can we expect a crypto bill passed in Panama, AP said:

“Silva is an independent congressman, so he will have an uphill battle because he's not in a leading party. There are four major political parties. His bill would have to pass through the economics commission which is composed of seven congressmen. If it passes, it will go to the 72-member Congress who have three separate discussion sessions, and those can take weeks to months."

Along with this, Joseph Isaza was asked about the result of the crypto bill being passed in Panama, to which Joseph said:

“I hope and expect that the employment rate will increase because with this bill I propose that Panama could bring new foreign investors to the country. It's the country in Central America with the fastest internet. So it will increase the economic friendliness for foreigners and citizens.”

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