Panama Crypto License: Is There One? 2026 Legal Guide

By Legal Solutions • 2 minute read

The Cryptocurrency Law in Panama: Why and When

There is no Panama crypto license to apply for today. As of November 2026, Panama has no dedicated crypto or virtual asset law in force and no licensing regime for virtual asset service providers (VASPs). Holding or using crypto is not prohibited, but several bills are still pending, and other rules, such as anti-money laundering law, can still affect a crypto business.

This guide explains what happened to the 2022 crypto bill, which proposals are pending and what to check before setting up a crypto company in Panama. It is general information, updated in November 2026. This area changes quickly, so have your specific project reviewed.

Is there a crypto license in Panama?

Not as a dedicated government license. In the sources we reviewed for this update, none of the crypto bills presented to the National Assembly had become law.

If a provider offers you a “Panama crypto license,” ask which authority issues it, under which law, and what document you would actually receive. What is on offer may be company formation plus compliance support. That can be useful, but it is not a license.

What happened to the 2022 crypto bill?

The National Assembly approved a crypto bill on April 28, 2022. It would have allowed crypto as an agreed means of payment and set rules for exchanges and other digital asset businesses. The President objected to it, and it did not become law.

Which crypto bills are pending in Panama?

Several proposals have been presented since 2025, and they differ on who would supervise the sector. This table summarizes three described in the Chambers Fintech 2026 guide, with information as of January 2026.

Proposal	What it would do	Proposed authority
Draft Bill 247 of 2025	Crypto framework with VASP registration, anti-money laundering rules and token offering rules	National Council of Digital Assets (CONAD), a new body
Draft Bill 326 of 2025	Mandatory registration and licensing for VASPs	Superintendency of the Securities Market (SMV)
Draft Bill 487 of 2026	General fintech framework that includes digital assets, with a national registry and license	Superintendency of Banks

Treat these as proposals, not current rules. Other sources cite different numbers for similar drafts, so check the National Assembly’s records before relying on any of them.

What rules apply to a crypto business today?

Anti-money laundering: Law 23 of 2015 is Panama’s main framework. It does not name crypto exchanges expressly, but advisers generally recommend preparing as a reporting entity: registration with the Financial Analysis Unit (UAF), a compliance officer, customer due diligence, transaction monitoring and suspicious transaction reports.
Securities: depending on its features, a token may raise questions under Panama’s securities law (Law 67 of 2011).
Banking supervision: in 2018, the Superintendency of Banks warned about the risks of crypto and said this activity had no specific regulation and fell outside its competence.
Company obligations: a crypto company still has the ordinary corporate, tax and commercial obligations of any Panamanian company.

Can you set up a crypto company in Panama?

Yes. Nothing prohibits incorporating a Panamanian company whose purpose includes crypto activity. The usual choice is between an operating company, if you will do business in Panama, and an offshore company, if your activity takes place outside the country.

Banking is usually the harder part. Panamanian banks we have consulted in the past have been reluctant to open accounts for crypto-related companies, citing restrictions from their correspondent banks. Review your options for a corporate bank account before you incorporate, not after.

What to define before you start

What the business actually does: exchange, custody, payments or token issuance.
Where your customers are, since other countries’ rules may apply as well.
Your anti-money laundering program and who will be responsible for it.
Where the company will bank, and in which jurisdiction.
How you will adapt if one of the pending bills becomes law.

Planning a crypto project in Panama? Contact Legal Solutions Panamá to review your structure before you commit.

Frequently Asked Questions

Is crypto legal in Panama?

Crypto is not prohibited in Panama, but it is not legal tender and there is no dedicated crypto law in force as of November 2026.

Do I need a license to run a crypto exchange in Panama?

There is no dedicated crypto exchange license as of November 2026. Your business may still have anti-money laundering, corporate and tax obligations, so have your activity reviewed before launching.

Did Panama’s 2022 crypto law take effect?

No. The National Assembly approved the bill in April 2022, but the President objected to it and it did not become law.

Is a new crypto law coming to Panama?

Several bills are pending, but none had become law in the sources we reviewed for this November 2026 update, and there is no confirmed date.

Can a crypto company open a bank account in Panama?

It can be difficult. Panamanian banks we have consulted in the past have been reluctant to accept crypto-related companies, so review your banking options before you incorporate.