Panama Update: New President Could Impact Crypto

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In October 2018, I stated, “I don’t believe Panama will live up to its potential and become the crypto hub it should be”.

The new President of Panama, Nito Cortizo is unapologetically pro-business. In fact, he was the favored candidate of everyone I know in the Panama business community.

Again, let me reiterate: I love this Panama. It’s a great place for a lot of reasons. And I’m not even talking about the beaches or the tropical weather all year round. Panama is a great place to do business and to live.

There is every reason in the world why businesses should want to bank here. But they don’t. Why?

There’s no nice way to say this, so I’ll just say it. Panama’s banking industry is horribly mismanaged.

Panama is a great place to call home. And that’s why many crypto entrepreneurs and investors, myself included, moved here. But as a jurisdiction to register and operate a crypto project, it has challenges that still need to be addressed.


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