Making Panama Compatible With Bitcoin

A Panamanian legislator and entrepreneur discuss the country's efforts to legalize bitcoin and cryptocurrencies.

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Have you heard about what’s happening in Panama? Hint: It has nothing to do with canals. A new bill has been presented to legalize cryptocurrency and bitcoin, and the latest episode of the “Bitcoin Magazine Podcast” hosted two important figures in this developing story to share everything Bitcoiners need to know.

Gabriel Silva, a congressman in Panama standing behind this bill, and Felipe Echandi, an entrepreneur seeking to propel the Panamanian economy forward, joined the show for this fascinating conversation. The two guests approached the topic with practical discernment and understanding, discussing the basics of crypto legalization in the country, the developing geopolitical factors, and why Panama is becoming an increasingly attractive place for foreign residents.

We saw what happened in El Salvador some months ago, when the Congress approved the Bitcoin law in El Salvador,” Silva said. “That, in a certain way, inspired me, inspired many people across the globe.”

Sharing unique insider insights, Silva and Echandi provided a comprehensive view on Panama’s laws, rules around banks and legal tender, comparisons to Singapore, and furthering the project of the internet and technology, to say the least.

“When I discovered Bitcoin, many years ago, it blew my mind, the potential that it had to give people new avenues to self-ownership of the product of their labor, and just in general, be sovereign individuals,” said Enchandi.

They considered the questions of why this bill specifically. And what reality could it espouse to bring positive change for Panama and its people?

Catch it all in this exciting episode. 

Publication date: 
09/24/2021 - 03:00
Disclaimer

The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.