Panama

Legal

Virtual Asset / Crypto-asset · Unregulated · ↻ under consideration

Exchanges

Comprehensive framework Proposed CASP / VASP regime Proposed Licensing Proposed AML / CFT Approved · 2015 Stablecoins Unregulated · Unregulated CBDC N/A Consumer protection Unregulated Travel rule No Advertising rules No Taxation Unclear

Summary

Panama has no comprehensive crypto framework in force. The National Assembly passed Bill 697-2022 in 2022, but President Cortizo partially vetoed it; after a revised version, the Supreme Court of Justice ruled it unconstitutional on 14 July 2023, so it never became law. Crypto activity is legal and operates under general commercial law; VASPs already fall under AML obligations via Law 23 of 2015 (registration with the Unidad de Analisis Financiero). New bills (No. 247 in 2025 and Anteproyecto 314 in Jan 2026) propose a dedicated VASP/CASP regime but are not yet enacted.

Timeline

2021: crypto bill introduced. Apr 2022: Assembly passes Bill 697-2022. Jun 2022: partial presidential veto. Oct 2022: revised version passed. Jul 2023: Supreme Court rules it unconstitutional. 2025: Bill 247 proposed. Dec 2025: Panama joins OECD CARF. Jan 2026: Anteproyecto 314 fintech framework received.