Panama Like Cuba And El Salvador: Bitcoin And Other Cryptocurrencies Will Have Legal Tender

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El Salvador has officially become the first country to adopt Bitcoin as its official currency, buying 400 Bitcoin or about 20 million Dollars. This is becoming an important precedent for other countries like Panama, where Congressman Gabriel Silva presented an important bill on cryptocurrencies.

The announcement came directly via Twitter with a dedicated video, where the Panamanian congressman Gabriel Silva showed his enthusiasm for this bill, available for full reading via the Google Drive link attached to the tweet: We try to make Panama a country compatible with blockchain, cryptocurrencies and the Internet. This has the potential to create thousands of jobs, attract investment and make government transparent.

The bill seems much more complex than the measure seen in the case of El Salvador: Gabriel Silva spoke in detail of the intention to make more cryptocurrency different legal tender currency, while exploring the possible use of blockchain technology for legal tender services. We talk about “support for innovation”, creating many more jobs, decentralization, government transparency and much more.

A similar intent is also seen in Cuba, where the government has published a resolution in the Official Journal to start work towards the recognition and use of Bitcoin and other cryptocurrencies as legal currency, with the aim of allowing the financial inclusion of thousands of

Meanwhile, the El Salvador effect on the cryptocurrencies world has quickly exhausted: after significant initial growth, Bitcoin, Ethereum and other cryptocurrencies have collapsed in their value.

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