Panama’s President Laurentino Cortizo has partially vetoed Bill No. 697 dubbed the “crypto bill” saying it requires more work to better fit Panama’s financial regulations.
President Cortizo previously warned in May he wouldn’t sign the bill unless it included additional Anti-Money Laundering rules after Panama’s National Assembly passed the crypto bill in late April 2022.
Local media outlet La Prenda obtained a copy of the 32-page veto, reporting the President wrote it's “imperative” the cryptocurrency laws conform to new regulations recommended by the Financial Action Task Force (FATF) outlining “fiscal transparency and prevention of money laundering”.
President Cortizo has previously described the legislation as an “innovative law”, and indicated approval of certain aspects of the bill, but has said possible illicit uses of cryptocurrencies needed addressing.
Congressman Gabriel Silva who helped introduce the bill in September 2021 tweeted on June 16 that (according to a...
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