Panama proposes proposal to regulate cryptocurrencies and NFTs

On August 27, Panama put forward a proposal aimed at regulating Bitcoin, NFT and cryptocurrency. The draft bill aims to attract foreign investment in cryptocurrency mining.

Companies that decide to install equipment in Panama will receive tax benefits if they hire local personnel.

The country’s requirements for mining companies include using at least 50% renewable energy and employing at least five Panamanians in their facilities. The country will also evaluate the use of digital assets as a payment method for purchasing products and services.