Panama's new legislation exempts crypto from capital gains taxes, allows for payments use, but stops short of legal tender. andresengler reports.
Panamanian Congressman Gabriel Silva – the sponsor of the freshly-passed legislation – said the bill doesn't allow for any crypto to become legal tender, but makes possible free use of crypto as a means of payment for any transaction.
Prior to the bill, says Silva, it was illegal for digital asset companies to set up shop in Panama, but that would change once the legislation becomes law.
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