Panama President Laurentino Cartiso has given a partial veto on a bill regulating the circulation of digital assets. Reported by Cointelegraph.

According to the president, the document must necessarily comply with the norms FATFto ensure “financial transparency and prevention of money laundering”.

Cartiso demanded the finalization of the normative regulation in terms of compliance with the country’s fiscal rules.

Congressman Gabriel Silva, who helped draft the bill, tweeted that the veto was “a missed opportunity to create jobs, attract investment, and bring technology and innovation to the public sector.”

“The country deserves more opportunity and affordability,” Silva said, adding that he will seek the veto power of Congress to make the changes, which will be up for discussion later.

If the bill is eventually signed, Panama will be the second Central American country after El Salvador to recognize bitcoin as a legal means of payment.

However, unlike El Salvador, the Panama bill covers all cryptocurrencies and does not require local businesses to accept digital assets. The document also covers the issuance of digital values, regulates the tokenization of precious metals and the digitization of identity using the blockchain.

Recall that a bill regulating the circulation of digital assets in Panama was introduced in September 2021. It was approved by the National Assembly in March 2022.

In May 2022, President Laurentino Cartiso announced that he would refuse to sign the document in its current form due to money laundering risks.

Read ForkLog bitcoin news in our Telegram – cryptocurrency news, courses and analysis.