Is crypto legal in Panama?

Crypto is legal in Panama. Nothing prohibits buying, holding or trading it, but as of October 2026 Panama has no crypto law and no license for crypto companies. Anti-money-laundering duties still apply, and new bills are under discussion.

Is bitcoin legal in Panama?

Yes, but it is not legal tender. Panama has no central bank and uses the US dollar as legal tender, as La Prensa noted when covering the government's response to the 2022 crypto bill. Bitcoin can be bought and used where both sides agree, but no one has to accept it.

What happened to Panama's crypto law?

The National Assembly passed bill 697 in 2022 to regulate the trading and use of crypto assets. President Laurentino Cortizo partially vetoed it on June 15, 2022. He said it needed to fit the rules of the banking system and Panama's dollar-based monetary model, and to follow the recommendations of the Financial Action Task Force.

The Assembly revised the text and passed it again in October 2022, but the executive took it to the Supreme Court. On June 6, 2023, the full court declared the whole bill unconstitutional, La Prensa reported. The court said that after a veto the Assembly may only debate the articles the president objected to, and the Assembly had changed and added others.

What are Panama's crypto laws now?

There is no dedicated framework. According to LexLatin in May 2026, the financial analysis unit (UAF) oversees anti-money-laundering obligations for virtual asset service providers, but there is no formal license or registry for them. Banks apply their own risk criteria, which often makes it hard for crypto businesses to open accounts. More on these duties is in crypto anti-money-laundering rules.

Two proposals were pending. Bill 247, presented in March 2025, would regulate crypto use and supervision and set a special tax regime run by the tax authority. A draft fintech framework law, number 314, presented on January 13, 2026, would cover crypto assets, stablecoins and NFTs. LexLatin reported no further progress on either.

Is Panama crypto friendly?

In some ways. In April 2025 the Panama City council voted to accept bitcoin, ether, USDC and USDT for taxes, permits and fines, The Block reported. A partner bank receives the crypto and converts it to dollars on the spot, because public bodies must receive dollars, according to Mayor Mayer Mizrachi. That approach did not need a new law. For more on spending crypto, see where can you spend crypto.

The lack of licensing cuts both ways. It leaves room to operate, but it also means no crypto license sets standards for the firms customers use. For other countries, see is cryptocurrency legal and crypto regulation around the world.

Rules differ by country and change often. Check the regulator or a qualified professional for your own situation.