Bill 247 establishes a regulatory framework for the use of cryptocurrencies and promotes the digital economy in Panama. The initiative was referred to a sub-commission for analysis, an early stage of the legislative process.

Among its provisions, Article 18 provides incentives for crypto-asset companies that establish operations in the country and permits the creation of digital economic zones with special conditions for technology and blockchain companies. Article 24 subjects cryptocurrency transactions to a special tax regime regulated by the Directorate General of Revenue (DGI).

For the financial technology ecosystem, having clear rules on the taxation and operation of crypto assets can provide greater predictability. The bill must clear sub-commission review before advancing to debate, meaning its wording may still change.