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Panama Presents Proposal to Regulate Bitcoin, NFT and Cryptocurrencies
Summary: Panama presents proposal to to regulate all activities related to cryptocurrencies. The Central American country will also evaluate using digital assets as an optional payment method to purchase products and services. The initiative includes guidelines for attracting foreign investment among mining companies. Those corporations that decide to install their equipment in Panama will have tax ...
Panama presents proposal to to regulate all activities related to cryptocurrencies. The Central American country will also evaluate using digital assets as an optional payment method to purchase products and services. The initiative includes guidelines for attracting foreign investment among mining companies.
Those corporations that decide to install their equipment in Panama will have tax incentives if they hire local personnel. Among the requirements that the country would demand of miners are: use 50% renewable energy and hire at least five Panamanians at its facilities, among other guidelines.
The Ministry of Commerce and Industries and the General Directorate of Revenue will recognize the investment of cryptocurrencies as an economic activity, ”the bill reads.
By Amy Liu
Tags: Cryptocurrency,Panama,Proposal
Link: Panama Presents Proposal to Regulate Bitcoin, NFT and Cryptocurrencies [Copy]
