Panama President Laurentino Cortizo vetoed the crypto bill over concerns that it would not comply with certain legal regulations.
President Cortizo vetoed the country’s crypto bill. For the bill regulating DAOs and blockchain-related businesses, Cortizo called for stricter AML measures and stated that the bill must comply with the new FATF recommendations. The development was announced via the official Twitter account of Panamanian congressman Gabriel Silva.
Silva also said that they are examining the veto and looking into the necessary regulations so that the said bill can be approved as soon as possible. On the other hand, the said veto does not mean that the country has closed its door to crypto law. The bill is important for the country to create new business lines and attract new investments to the country.
