In brief:
₿- Bill 247 aims to legalize and regulate crypto assets in Panama by creating dedicated oversight bodies to support safe adoption.
₿- Panama City’s mayor is advancing a pioneering Bitcoin reserve and has approved cryptocurrency payments for taxes and fees.
₿- Panama’s strategic location and growing crypto infrastructure position it as a leading hub for digital finance in Latin America.
Panama is moving decisively toward becoming a crypto powerhouse in Latin America. The crypto adoption is accelerating thanks to Bill 247 and bold municipal initiatives that aim to position the country as a leader in digital finance. Despite outdated criticism and lingering regulatory skepticism, recent developments highlight a nation ready to embrace blockchain innovation.
From the revival of Bill No. 247 to city-level ambitions for a Bitcoin reserve, Panama is signaling to the world that it’s open for crypto business. The country is eager to establish itself as the region’s hub for decentralised financial growth.
What is Bill 247 and why it matters for Panama crypto adoption?
Introduced by Deputy Gabriel Solís, Bill No. 247 marks a major step toward legalizing the use of crypto assets in Panama. The bill outlines the creation of the National Digital Assets Council (CONAD) and an Inter-Institutional Committee for Digital Asset Supervision (CISAD), which would coordinate and regulate digital asset activity nationwide.
Far from adding red tape, these entities are designed to provide the structure and confidence needed for widespread adoption of blockchain technologies across both public services and the private sector. For Panama, it’s a blueprint for building a safe, transparent, and future-ready crypto ecosystem.
Panama City’s mayor backs Bitcoin reserve and real-world crypto use
Mayor Mayer Mizrachi is not waiting for national policy to evolve. He recently hinted at the creation of a city-level Bitcoin reserve after meeting with Max Keiser and Stacy Herbert, two architects of El Salvador’s Bitcoin strategy. While details remain limited, the move signals a bold step toward holding Bitcoin as a strategic asset for the city.
Panama City has already approved the use of crypto—including Bitcoin, Ethereum, USDT, and USDC—for paying taxes and fees. Mizrachi’s forward-thinking leadership positions Panama’s capital alongside global early adopters and strengthens its role as a rising crypto stronghold.
Panama’s location makes it the natural crypto hub of the Americas
Strategically positioned between North and South America, Panama sits at the heart of the Western Hemisphere, serving as a vital link for trade, travel, and now—digital finance. Its world-renowned airport, robust connectivity, and growing economy make it one of the best places to launch crypto businesses and attract foreign investment. With flights and commerce flowing through Panama daily, the nation is poised to become the gateway for blockchain adoption in the Americas.
Criticism persists—but the momentum is undeniable
Opponents of Bill 247 often point to crypto’s volatility and possible misuse, ignoring how blockchain can provide transparency, traceability, and innovation. Calls for caution are expected, but global trends, success stories like El Salvador, and growing adoption at the municipal level indicate that Panama’s move is both timely and strategic. Even IMF pressure in other regions has failed to stop the growing demand for digital financial alternatives.
Panama’s future is decentralised
With Bill 247 back on the table, local governments leading by example, and a unique geopolitical advantage, Panama is well on its way to becoming the crypto capital of Latin America. It is not a trend—it’s a transformation, and Panama is seizing the opportunity to lead.
Stay informed,
Rodcas Consulting Group