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Crypto Regulation in Panama

Legal

Panama passed a crypto regulation law in 2022 but it was partially vetoed by the president. Crypto is not banned and the country has a growing crypto scene. The SBP and SMV are exploring regulatory frameworks.

Region: Central AmericaCurrency: PABRisk Score: 35/100

Tax Information

Capital Gains (Personal)
10% CGT on asset disposals; territorial tax system (foreign-sourced income exempt)
Capital Gains (Corporate)
25% corporate tax; territorial basis
VAT on Crypto
No
Staking Tax
No specific guidance
Airdrop Tax
No specific guidance
Mining Tax
No specific guidance; territorial system may exempt foreign-sourced income
Summary
Panama operates on a territorial tax system. Only Panama-sourced income is taxable. Foreign crypto trading gains are generally not taxable for Panama residents. This makes Panama attractive for international crypto traders.

Licensing & Registration

License Required
No
Regulator
SBP / SMV (Superintendencia de Bancos de Panamá / Superintendencia del Mercado de Valores)
Framework
Crypto regulation law (2022, partially vetoed)
License Types
--
Estimated Cost (USD)
N/A
Timeline
N/A months
Ease of Licensing
Easy
Notes
The partially vetoed 2022 crypto law would have provided a comprehensive framework. The country operates without specific crypto regulation. Panama's territorial tax system and dollar-based economy attract crypto businesses.

AML / KYC

KYC Required
Yes
Travel Rule
No
FATF Member
No
FATF Status
Partially Compliant
Suspicious Activity Reporting
Yes

Mining

Mining Legal
Yes
Status
Legal
Electricity Cost ($/kWh)
$0.12
Renewable Energy
70%
Climate
Tropical
Infrastructure
Good
Tax on Mining Income
25% corporate tax

DeFi, Stablecoins & NFTs

DeFi: legalStablecoins: no rulesNFTs: no_rulesCBDC: none

Soken Services

Legal Opinion
Available | $3,000 - $12,000 | 10 days
Banking
Difficulty: Easy | Crypto-friendly banks: Towerbank, Banco General
Min. Deposit
$10,000
Fiat Rails
SWIFT, Local ACH
Card Payments
Visa, Mastercard
Company Registration
$8,000 | 30 days | Sociedad Anónima (SA)

Sources

Superintendencia de Bancos de Panamá
Reviewed: 2026-03-01likely

Frequently Asked Questions

Is crypto legal in Panama?
Cryptocurrency is currently classified as "Legal" in Panama. Panama passed a crypto regulation law in 2022 but it was partially vetoed by the president. Crypto is not banned and the country has a growing crypto scene. The SBP and SMV are exploring regulatory frameworks.
What is the crypto tax rate in Panama?
In Panama, the personal capital gains tax on crypto is 10% CGT on asset disposals; territorial tax system (foreign-sourced income exempt), and the corporate tax rate is 25% corporate tax; territorial basis. Panama operates on a territorial tax system. Only Panama-sourced income is taxable. Foreign crypto trading gains are generally not taxable for Panama residents. This makes Panama attractive for international crypto traders.
Do I need a crypto license in Panama?
No, Panama does not currently require a specific crypto license, though other financial regulations may apply.
Is crypto mining legal in Panama?
Yes, crypto mining is legal in Panama. Electricity costs approximately $0.12/kWh. Mining income is taxed at: 25% corporate tax.
What are the AML/KYC requirements for crypto in Panama?
Yes, crypto businesses in Panama must comply with KYC (Know Your Customer) requirements. FATF compliance status: partially_compliant.