Panama has introduced legislation that would allow citizens to buy, sell and accept freely Bitcoin BTC / USD Nationwide, marking another important step in the global adoption of cryptocurrencies.
What happened: The bill follows the recent decision of the municipal council to accept Bitcoin, Ethereum ETH / USDAnd stablecoins like the USD part and attach it to taxes, fines and costs, according to the Bitcoin historian Pete Rizzo, who announced the news on X on Monday.
This legislative push comes in the middle of the acceleration of the adoption of cryptocurrency worldwide, supplied in part by the American president Donald TrumpPro-Crypto policies have been implemented since their entry into office in January.
The anterior initiative of the cryptocurrency of Panama City, led by the municipal councilor Mayer Mizrachihas implemented a practical bypass solution to accept digital assets without requiring new legislation. “Legally, public institutions must receive funds in dollars, we have therefore established a partnership with a bank that will receive crypto and convert it to USD,” said Mizrachi.
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Why it matters: The Trump administration defended the adoption of cryptocurrencies by establishing a Bitcoin strategic reserve and by appointing an AI and a Tsar Crypto. These actions have embraced other nations to explore the integration of digital assets while Bitcoin recently type $ 107,000, just 2.51% of its record level.
The feeling of the market remains solid despite the global economic uncertainties. Digital galaxy CEO Mike Novogratz Recently warned that the US economy is starting to “behave more like an emerging market than a developed market”, citing macroeconomic instability, in particular interest rates and tariff shocks.
Meanwhile, investment in cryptocurrency continues to accelerate. The Santiment Chain Analysis Society reported $ 6.63 billion in net entries in the Bitcoin FNB in the past five weeks, “historically calling it a bull sign for the movement of future prices”.
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