{"id":32613,"date":"2022-05-20T21:40:16","date_gmt":"2022-05-21T02:40:16","guid":{"rendered":"https:\/\/panamaadvisoryinternationalgroup.com\/blog\/?p=32613"},"modified":"2022-05-20T21:40:16","modified_gmt":"2022-05-21T02:40:16","slug":"panama-president-will-refuse-sign-crypto-law-current-form","status":"publish","type":"post","link":"https:\/\/panamaadvisoryinternationalgroup.com\/blog\/panama-president-will-refuse-sign-crypto-law-current-form\/","title":{"rendered":"Panama President Will Refuse to Sign Crypto Law in Current Form"},"content":{"rendered":"

Panama\u2019s President Laurentino Cortizo said he\u2019ll refuse to sign a law regulating the use of cryptocurrency until it contains tougher anti-money laundering controls.<\/p>\n

The nation\u2019s legislative assembly passed the bill last month, which would make it easier for cryptocurrency exchanges to obtain licenses to operate in the country, and regulates transactions in digital currencies.<\/p>\n

But the bill requires the president\u2019s signature to become law, and Cortizo said he needs guarantees that it complies with global anti-money laundering standards.<\/p>\n

\u201cIf I\u2019m going to answer you right now with the information that I have, which is not enough, I will not sign that law,\u201d Cortizo said, speaking at the Bloomberg New Economy Gateway Latin America conference in Panama City. \u201cI have to be very careful if the law has clauses related to money laundering activities. Anti-money laundering activities are very important to us.\u201d<\/p>\n