Binance News: Panama Proposes New Law to Attract Crypto Firms with Regulatory Framework

Panama is making strides to become a hub for cryptocurrency companies by proposing a new law that aims to regulate the industry and establish a licensing system for virtual asset service providers (VASPs). Here’s a closer look at the key details of the proposal and its potential impact on the crypto market.

Panama Proposes New Law for Crypto Payments and Industry Regulation

Panama has introduced a draft bill aimed at regulating cryptocurrency and establishing licensing for virtual asset service providers (VASPs). The bill also seeks to integrate blockchain into government processes. The proposal aims to create a legal framework that would attract crypto companies such as Binance, PayPal, and Coinbase to operate directly in the country, contributing to economic growth. Panama hopes to position itself as a fintech leader in Latin America with this initiative.

Binance Excludes Pi Network From Listing Campaign

In a surprising turn of events, Binance has excluded Pi Network (PI) from its latest listing campaign, raising concerns among investors. This decision comes amid growing scrutiny over Pi Network’s operational transparency, liquidity challenges, and community uncertainty. The exclusion signals deeper concerns within the altcoin industry and highlights the increasing demand for reliable projects. Pi Network (PI) has seen a sharp decline in price following Binance’s decision, dampening investor confidence.