As Panama weighs the option of passing a sweeping new bill on cryptocurrencies, President Laurentino Cortizo recently told audiences in Panama City that stronger anti-money laundering protocols would need to be in place before the bill could be signed.
Panama currently ranks among the top countries for money laundering and terrorism financing in Latin America, causing it to be placed on the Financial Action Task Force's (FATF) "grey list."
Cortizo said the bill was a “good law,” but expressed ambivalence about signing it into law if it imperiled the country's ability to get off the grey list.
Panama has a close geographic proximity to Colombia and Mexico, making the country a destination country for drug trafficking and money laundering from the trade.
Earlier this year, Panama was asked by the FATF to have an action plan in June for how it plans to combat money laundering and terror financing.
“If I’m going to answer you right now with the information that I have, which is not...
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.
INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...