Home Technology Latin America could become a crypto hub – Fin Tech

Latin America could become a crypto hub – Fin Tech

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Latin America could become a crypto hub – Fin Tech

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As cryptocurrencies began to dominate internationally, countries like El Salvador and, more recently, Panama are adopting rules to enable a crypto-inclusive world. These countries are considered a forerunner in crypto regulation and are inspiring other countries to implement similar regulations.

Panama is currently drafting crypto laws that have the potential to open up its economy to new activities related to digital currencies. This legislation is focused on opening up the economy to blockchain, tokenization and crypto-assets in general. It will also allow Panamanians to use not only Bitcoin, but also Ethereum, Ripple, Litecoin, etc.

David SzalygaCorporate Partner at Warren Law Group states, “Recent developments indicate that Panama may well soon position itself as a major hub in the emerging crypto ecosystem in Latin America. Panama’s position will likely accelerate once the regulatory clarity will finally be achieved, which will then encourage further investment in crypto-businesses there.”

The content of this article is intended to provide a general guide on the subject. Specialist advice should be sought regarding your particular situation.

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