Jurisdiction reference
Panama
Regulator: SMV Panama. License/registration context: Unclear. 17 VASP/entity records are tracked by Plexo Institute in Panama. Official registry source: source validation pending. Data last updated: 2026-09-24.
Panama considered a comprehensive crypto bill (2022) that would have regulated stablecoins, defined VASPs, and recognized crypto for payments. President Laurentino Cortizo vetoed the bill in June 2022, citing AML/FATF compliance concerns. As a result, stablecoins remain unregulated but tolerated, and they are widely used in payments, commerce, and remittances given Panama's dollarized economy. No replacement bill has yet been enacted.
Regulatory Status
- Jurisdiction code
- PA
- Regulator
- SMV Panama
- Governing law
- Law 129/2020 (vetoed provisions)
- Travel Rule
- In Progress
- Tracked entities
- 17
- Recognized stablecoin backing
- fiat-backed, crypto-backed, commodity-backed, algorithmic
- Yield-bearing stablecoins
- Restricted
- Currency
- PAB
Regulatory approach
The banking regulator and Ministry oversee AML, payments, and financial policy. Neither has enacted stablecoin-specific rules; crypto oversight remains unstructured.
Licensed entities in Panama
Showing 2 of 17 regulated-entity records tracked in Panama by Plexo Institute.
| Entity | Status | License type |
|---|---|---|
| Binance | Registered | Operating |
| Towerbank | Licensed | Banking (Crypto-friendly) |
Browse all 17 records in the regulated-entity registry, including the remaining 15 in Panama.
Stablecoin laws in Panama
Primary legal texts Plexo Institute tracks for Panama.
- Presidential Veto of Bill 697 (enacted 2022-06-16)
President Cortizo vetoed the bill, citing lack of FATF compliance. Stablecoins remain unregulated.
- Crypto Bill (Proyecto de Ley 697) (enacted 2022-04-28)
Bill passed by National Assembly to regulate crypto, stablecoins, and VASPs; recognized use for payments.
Relationship Graph
Jurisdiction FAQ
Who regulates Panama?
The current Plexo Institute record lists SMV Panama as the regulator for Panama.
How many VASPs are tracked in Panama?
17 VASP/entity records are tracked by Plexo Institute in Panama.
What is the Travel Rule status in Panama?
The current Plexo Institute record lists the Travel Rule status for Panama as In Progress.
Source Evidence
This profile is compiled from official legislation and regulator records. Source confidence: source evidence missing.
Source validation is still required before this page can move from noindex to an opened crawler cohort.