Panama's President Vetoes Bitcoin Law

Almost two months ago, the Panamanian parliament passed a law that should regulate the legal status of Bitcoin. The Central American country would be only the second country after El Salvador where Bitcoin would become the official means of payment.

President Laurentino Cortizo has now vetoed it. As the local newspaper La Prensa reports , the statesman justifies his decision with the lack of anti-money laundering measures. Cortizo had already announced his intention in May.

However, this does not mean that the law is off the table. It only has to be readjusted at the appropriate point. In principle, Cortizo described the legal corset as “innovative”.

Gabriel Silva, one of the initiators of the Bitcoin law, expressed his dissatisfaction with the decision on Twitter . It is a missed opportunity to create jobs, attract investment and integrate technology and innovation into the public sector.

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