Global Warming Up to Bitcoin

Even as the news of the Central African Republic’s adoption of BTC is still as hot as the savannah, the topic of regulation continues to spread worldwide. Not to be outdone, things are heating up in the jungles of Latin America where both Panama and Brazil are making moves toward digital integration.

• The Panamanian Legislative Assembly approved a bill yesterday to regulate the use of cryptocurrencies while Brazil’s Senate approved the country’s first bill aimed at regulation earlier this week.
• After exiting the Assembly’s Economic Affairs Committee last week, the approval of the bill brings it one step closer to Panamanian President Laurentino Cortizo’s veto or signature to have finality in the matter.
• If signed, Panama’s bill will enable citizens to pay taxes with crypto and pave the way for use of digital assets in both private and public venues.
• Gabriel Silva, the bill’s sponsor, explained that crypto assets are treated as foreign-source income, equating to no capital gains taxes and said the proposed legislation is broader in scope than measures passed by El Salvador.

While it’s easy to get emotional when prices are volatile – don’t sweat it.  The crypto space is a hotbox of uncharted territory. Take a step back into the shade and look at the bigger picture.