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Breaking: Panama Will Allow For Litecoin - No Capital Gains and Tax Payments

Panama is adopting Bitcoin, Litecoin and other cryptocurrencies as payments, legal tender, tax payments and no capital gains.

Also there will be no licenses for non-custodial wallets, but licenses for third-parties that hold Litecoin and cryptocurrencies to ensure and protect customers.

The bill has been voted on an passed unanimously, the last remaining step is for the president of Panama to sign it into law within 30 days. The president will either approve or veto.

Please see the translated bill attached below:

Panama Crypto Bill
Download PDF • 828KB

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