Panamanian Cryptocurrency regulations aim to establish the country as a central hub for Bitcoin transactions
Panama is taking strides to become a regional leader in blockchain technology and cryptocurrency adoption with the introduction of a new law, known as Bill No. 247. This legislation, also referred to as the "Cryptocurrency and Digital Assets Bill," aims to establish a clear and robust legal framework for the regulation of cryptocurrencies and digital assets in Panama.
Gabriel Solis, the alternate deputy and crypto law's champion, explained that Bill No. 247 addresses the issues found in the previous attempt, Bill No. 697, and aims to create trust and institutional maturity in the digital asset sector. The law is inspired by El Salvador's Bitcoin Law but will begin with learning about the adoption process and be oriented towards Panama's strengths as an international logistical and financial hub.
Unlike the mandatory legal tender models, the Panama crypto law ensures contractual freedom and legal certainty, allowing fintech companies to operate in a regulated yet flexible environment. Central to Bill No. 247 is the creation of the National Council of Digital Assets to oversee coordination and governance.
The most evident use case for blockchain in the Panama crypto law is the property registry and the inscription of public deeds, aiming to create a verifiable, immutable, and real-time accessible system. The law also proposes using blockchain for digital identity and tax payments, marking a new era of trust and efficiency.
The Panama crypto law requires licensing of Virtual Asset Service Providers registered with the Financial Analysis Unit and mandates compliance with KYC and AML standards aligned with FATF recommendations. It also establishes a clear legal framework that recognizes Bitcoin, Ethereum, and stablecoins as valid payment methods under mutual agreement.
The law contemplates the voluntary acceptance of Bitcoin and cryptocurrencies, positioning Panama as a "safe harbor" for digital innovation with clear rules, an open market, and respect for the decisions of citizens and businesses. The draft of Bill No. 247 envisions broader applications of blockchain in public administration, such as digital identities, tokenized securities, and legally enforceable smart contracts.
The crypto law, known as Bill No. 247, was introduced by Alternate Deputy Solis in 2025. It could transform Panama, with goals that include unlocking capital through tax exemptions for up to five years for blockchain startups and preferential capital gains treatment if assets are held for more than three years.
As of August 2025, the exact status of Bill No. 247—such as whether it has been enacted, amended, or is still under review—is not found in the provided search results. There are no updates on its key features or recent developments in the sources.
For precise, up-to-date details on Panama's Bill No. 247, it is recommended to consult official Panamanian government websites, legal databases, or recent press releases from Panama's legislature or Ministry of Economy and Finance.
In the context of Panama's push towards becoming a regional leader in blockchain technology and cryptocurrency adoption, Gabriel Solis, the alternative deputy and champion of the Cryptocurrency and Digital Assets Bill (Bill No. 247), aims to create trust and institutional maturity in the digital asset sector by addressing the issues found in previous attempts, such as Bill No. 697. This new legislation, intending to be a "safe harbor" for digital innovation, proposes the use of blockchain technology for digital identity, tax payments, and property registry, among other applications, and requires licensing for Virtual Asset Service Providers in compliance with KYC and AML standards.
