Panama has a clear legal framework for cryptocurrency under the Crypto Regulation Law (2022), positioning itself as a crypto-friendly jurisdiction with established banking supervision and AML controls.
| Status | Legal |
| Risk Score | 25/100 (Low Risk) |
| Region | central america |
| Currency | PAB |
| VAT on Crypto | No |
The regulator page does not specify detailed crypto tax rates or rules, but VAT does not apply to crypto transactions.
| Required | No |
| Regulator | UAF (primary AML regulator for VASPs); SBP (prudential, banking-like services); SMV (securities aspects) |
| Framework | Law 23 of 2015 (AML/CFT — applies to VASPs via FATF definitions); no enacted dedicated crypto law as of 2026-06-01 |
| Ease | medium |
Licensing is required under the Crypto Regulation Law (2022) with a medium difficulty process.
Limited enforcement. General AML monitoring by banking regulators.
| KYC Required | Yes |
| Travel Rule | Yes |
| FATF Member | No |
| FATF Status | not_listed |
| FATF Body | GAFILAT |
| Suspicious-Activity Reporting | Yes |
Status: regulated
DeFi activities are regulated under the Crypto Regulation Law, ensuring compliance with AML and licensing requirements.
Status: unregulated
No specific stablecoin regulation exists in Panama as of 2026-06-01. The 'Crypto Regulation Law (2022)' referenced in prior data was never enacted (Bill 697 vetoed). Stablecoins fall into the same regulatory grey area as other crypto assets — legal to hold/transact, subject to AML requirements via UAF registration under Law 23 of 2015, but no dedicated stablecoin framework.
Status: no_rules
No regulation.
| Legal | Yes |
| Electricity Cost | $0.12/kWh |
| Renewable Energy | 70% |
| Infrastructure | good |
Mining is legal with favorable electricity costs and a high share of renewable energy, supporting sustainable operations.
| Stability | stable |
| Sanctions | No |
| Corruption Index | 37/100 |
| Banking Access | open |
Risk Factors
Panama is politically stable with no international sanctions, moderate corruption, and a supportive environment for crypto businesses with open banking access.
Panama has a clear legal framework for cryptocurrency under the Crypto Regulation Law (2022), positioning itself as a crypto-friendly jurisdiction with established banking supervision and AML controls.
Panama is classified by FATF as: not_listed.
KYC is mandatory for crypto businesses.
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Explore IT Services →Last reviewed: 2026-06-01 · Data source: Soken Crypto Legal Map
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