---
type: country
domain: crypto-regulation
status: stable
tags: ["crypto-regulation", "central_america", "fatf", "legal"]
aliases: ["PA", "PAN", "Panamá"]
created: 2026-09-04
updated: 2025-06-01
compile_into: ["[[country--panama]]"]
sources:
  - name: "Superintendencia de Bancos de Panamá"
    url: "https://www.superbancos.gob.pa"
    type: "official"
---

# 🇵🇦 [[country--panama|Panama]] (PA) — Crypto Regulation

> Panama maintains a legal and regulated environment for cryptocurrencies, with AML/CFT obligations under Law 23 of 2015 applying to VASPs as per [[concept--fatf|FATF]] definitions. There is no dedicated crypto law enacted as of mid-2026, but regulatory oversight is active through the Unidad de Análisis Financiero (UAF).

## Overview

| Field | Value |
|-------|-------|
| Status | Legal |
| Risk Score | 25/100 (Low Risk) |
| Enforcement Level | Low |
| Region | [[domain--central-america|central america]] |
| Currency | [[entity--pab|PAB]] |

## Tax

| Type | Rate |
|------|------|
| Capital Gains (Personal) | /null |
| Capital Gains (Corporate) | /null |
| VAT on Crypto | No |
| Mining Tax | /null |
| Staking Tax | /null |
| Airdrop Tax | /null |

No explicit crypto tax rules detailed; VAT does not apply to crypto transactions.

## Licensing

| Field | Value |
|-------|-------|
| Required | Yes |
| Regulator | UAF (primary AML regulator for VASPs); SBP (prudential, banking-like services); SMV (securities aspects) |
| Framework | Law 23 of 2015 (AML/CFT) |
| Ease | medium |
| Cost | N/A |
| Timeline | N/A months |

VASPs must comply with AML/CFT regulations under Law 23 of 2015; no dedicated crypto license law yet.

## AML / KYC

| Field | Value |
|-------|-------|
| KYC Required | Yes |
| Travel Rule | Yes |
| FATF Member | Yes |
| FATF Status | compliant |

## DeFi

**Status:** unregulated

No specific regulations for DeFi; operates under general financial and AML laws.

## Stablecoins

**Status:** unregulated

No specific stablecoin regulations; stablecoins fall under general crypto asset oversight.

## NFTs

**Status:** no_rules

No regulation.

## Mining

| Field | Value |
|-------|-------|
| Legal | Yes |
| Electricity Cost | $0.12/kWh |
| Renewable Energy | 70% |
| Climate | tropical |
| Infrastructure | fair |

Mining is legal with moderate electricity costs and high renewable energy share; infrastructure is fair but improving.

## Geopolitics

| Field | Value |
|-------|-------|
| Stability | stable |
| Sanctions | No |
| Corruption Index | 37/100 |
| Ease of Business | moderate |
| Internet Freedom | free |
| Banking Access | moderate |
| Sanctions Programs Active | No |

## Enforcement

Limited enforcement. General AML monitoring by banking regulators.

## CBDC Status: none

## FAQ

### Is cryptocurrency legal in Panama?

Panama maintains a legal and regulated environment for cryptocurrencies, with AML/CFT obligations under Law 23 of 2015 applying to VASPs as per FATF definitions. There is no dedicated crypto law enacted as of mid-2026, but regulatory oversight is active through the Unidad de Análisis Financiero (UAF).

### What is the FATF status of Panama?

Panama is classified by FATF as: compliant.

### Are VASPs licensed in Panama?

Yes, licensing is required for VASPs.

### What is the AML/KYC regime in Panama?

KYC is mandatory for crypto businesses.

---

*Data source: [Soken Crypto Legal Map](https://soken.dev/crypto-map/). Last reviewed: 2026-09-04.*

**Sources:**
- [Superintendencia de Bancos de Panamá](https://www.superbancos.gob.pa)