Is Panama Next? Adoption Accelerates As Congressman Presents New Crypto Bill

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Panamanian Congressman Gabriel Silva has presented a bill to the legislature promoting cryptocurrency adoption in the Central American nation.

In a video message posted to Twitter, Silva explains his goals and motivations.

 

“We seek to make Panama a country compatible with the blockchain, crypto assets, and the internet. This has the potential to create thousands of jobs, attract investment, and make the government transparent.”

The draft bill proposes Bitcoin (BTC) and Ethereum (ETH) to be used as currency, and lists some key reasons as to why the integration of crypto into Panama’s economy could be beneficial.

“Innovation, technology, the internet, cryptocurrencies, the blockchain, and everything mentioned in this project is important for Panamanians because it has the potential to create jobs, bring money into the country, expand the supply of available products and services, protect money from inflation, support the emergence of new companies, attract knowledge, and much more.”

The bill also says that legislators plan on opening up the move for public discussion among citizens.

“For how important and comprehensive that this initiative is, we will be enabling participation channels, citizen presence (forums, debates, commissions, sub-commissions, etc.), and digital (live, digital forums, email, website, etc.) to receive the greatest amount of contributions from you to help improve this bill. The initiative as presented is not set in stone.”

Statements from the Panamanian legislator follow on the heels of El Salvador formally adopting Bitcoin (BTC) as a form of legal tender today, despite public protests and confusion.

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