Panamanian President Laurentino Cortizo has said he will not sign the proposed crypto bill until it receives stricter anti-money laundering provisions. Cryptocurrency exchanges and businesses that wanted to operate in Panama had to postpone their work. The proposal of the Panamanian Parliament, which aims to regulate the use of cryptocurrencies and to license cryptocurrency exchanges, was not accepted by the President.
The Panamanian government is currently implementing FATF recommendations to combat money laundering, financial crimes and terrorist financing crimes. On the other hand, the use of crypto assets for public purposes will strengthen Panama's financial services system.