President Of Panama Suspends Crypto Bill Citing FATF Guidelines

The President of Panama, Laurentino Cortizo, has temporarily vetoed Bill No. 697, a bill dubbed the “crypto bill.” The President took this decision after saying that the bill requires more work to fit Panama’s financial regulations better. In May, President Cortizo warned that he wouldn’t sign the bill if it didn’t include additional Anti-Money Laundering (AML) regulations after the country’s National Assembly passed the bill in late April 2022.

A copy of the 32-page veto was obtained by local media Outlet, La Prenda. It reported that the president wrote that it’s “imperative” that the cryptocurrency laws …