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Panama allows crypto tax payments

Panama allows crypto tax payments

The country's National Assembly approved a bill regulating the use of digital assets.

According to Reuters, Panama allowed tax payments in cryptocurrencies and legalized their trade and use, the issuance of digital securities, and the launch of new payment systems. The bill was approved by the National Assembly (unicameral parliament) on Thursday.

"Many different types of crypto assets are emerging, which can include pieces of art, for example. So, we didn't want to limit ourselves to just cryptocurrencies," said Gabriel Silva, author of the bill.

Earlier, the Central Bank of Cuba issued a decree under which, on May 16, it will begin issuing licenses to legal entities for the cryptocurrency use in economic activity. Licenses will be issued to individuals or entities that operate on or off the island, with a one-time renewal possibility.

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