Panama President May Veto Crypto Regulation Legislation
This article is a summary of reporting by CoinDesk. Originally published May 19, 2022.
Panama President Laurentino Cortizo publicly signaled reservations regarding the National Assembly's newly passed bill that formalizes the use of cryptocurrencies. Cortizo suggested he might issue a partial or full veto unless sufficient anti-money laundering and combating the financing of terrorism measures are guaranteed. The executive scrutiny highlights balancing Panama's goal of becoming a regional innovation hub against fears of reinforcing international perceptions regarding offshore financial secrecy.
AI Summary
Panamanian President Laurentino Cortizo indicated he could veto the recently approved crypto regulation bill over financial transparency concerns.
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