Yugocean
Valued Contributor
President Laurentino Cortizo of Panama has refused to give statutory recognition to the Crypto bill, citing the money laundering problem.
When Panama's parliament unanimously passed the crypto bill last month, various experts began to judge its robustness as being comparatively better than El Salvador's bitcoin bill. Of course, there were some such provisions in it, but in the process of making it better than Nayib Bukele's law, it became a little more ambiguous.
VETO Possibility
It is now being considered by various political analysts that President Laurentino Cortizo may veto the bill. It is also believed that only some parts of the bill will be vetoed by the President and the rest of the bill will be given legal recognition.
President Cortizone has not clarified anything at the moment. The President has only used words like "very important" for this, saying that he is consulting with his lawyers before making a decision on it.
Conclusion
Only time will tell what happens to the crypto bill in Panama, but this incident suggests that the President's sticking to an unopposed passed bill could create a huge crypto stir in Panama.
When Panama's parliament unanimously passed the crypto bill last month, various experts began to judge its robustness as being comparatively better than El Salvador's bitcoin bill. Of course, there were some such provisions in it, but in the process of making it better than Nayib Bukele's law, it became a little more ambiguous.VETO Possibility
It is now being considered by various political analysts that President Laurentino Cortizo may veto the bill. It is also believed that only some parts of the bill will be vetoed by the President and the rest of the bill will be given legal recognition.
President Cortizone has not clarified anything at the moment. The President has only used words like "very important" for this, saying that he is consulting with his lawyers before making a decision on it.
Conclusion
Only time will tell what happens to the crypto bill in Panama, but this incident suggests that the President's sticking to an unopposed passed bill could create a huge crypto stir in Panama.
