The Panamaic crypto calculation could get a second wind before the country's highest court-regulation

The fate of the Panamaic crypto accounting project, which was approved by the Panamaic National Assembly last year, now depends on the state's decision of the state's chief court. The approval of the project, against which President Laurentino Cortizo had lodged his veto, is now in the hands of the court after the congress rejected the veto.

The Panamaic law still has the opportunity to be approved

The Panamaic cryptocurrency law, which was presented to the National Assembly in 2021 and passed by the institution last year, has the opportunity to be checked and sanctioned again without the support of the President. The fate of the document is now in the hands of the Supreme Court of Panama, which has to weigh up the arguments for and against the approval of the legal framework.

President Laurentino Cortizo, who received the document to approved the draft law on January 18, gave it to the court instead after he had raised violent objections to its form. The institution, which has to decide on the future of the document after the National Assembly, has discussed and decided to support it again in its current form. The Executive at 26th January about these procedures. It said:

The draft law has found President Laurentino Cortizo and the Congress in a dead end since May, as Cortizo specified He would not sign the law in its current form due to concerns about money laundering and crime financing. Contrizo also praised it at the time and said it was an "innovation and a good law".

Finally, in June, Cortizo a partial vetoma for the Draft law, criticism of certain aspects and return to the National Assembly, which had the opportunity to adapt it to the president's concerns or simply to push him to his previously approved sanction.

The veto triggered negative reactions from some representatives of the National Assembly, which said that this was a missed opportunity to attract investments by cryptocurrency companies and to create more financial inclusion. Countries in Latam like el Salvador and Venezuela have already crypto-river operations regulated.

What do you think of the Panamaic crypto calculation? Tell us in the comment area below.

Sergio Göschenko

sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late in the game and entered the cryptosphere when the price increase took place in December 2017. He has a background as a computer engineer, lives in Venezuela and is affected by the cryptocurrency boom on a social level. It offers a different perspective on the crypto success and how it helps those who have no bank account and are under-supplied.

Bedy verification : Shutterstock, Pixabay, Wikicommons