Bitcoins continues to expand its borders around the world.
Today, Bitcoin is the only cryptocurrency that is the center of attraction around the world. Bitcoin has certainly expanded its borders around the world and made a revolutionary impact on the financial industry in different countries. The US financial sector has been heavily influenced by Bitcoins. After the developments from El Salvador, Paraguay and Central African countries, Bitcoin has started its reign in Panama. Panama is a country that connects Central and South America. Lawmakers in Panama went on to create a law that would allow the use of Bitcoin and 8 other cryptocurrencies in the country without restrictions. The government intends to form a statutory body to regulate the functioning of cryptocurrencies in Panama.
Panama’s bank supports bitcoin!
Towerbank, which ranks among the top 30 financial institutions in Panama, announced that it will be bitcoin-friendly and can be called a “bitcoin bank”. Bank officials invite Bitcoin investors to easily open accounts with the bank. They also promise to ensure that bitcoiners will not face any issues like blockages, closures or other setbacks that Panamanian citizens generally face when conducting cryptocurrency operations.
The Bank’s Role in Curbing Crypto Fraud!
From the point of view of Rodrigo Icaza (Secretary General of the Chamber of Digital Commerce and Blockchain of Panama), the Bitcoin banking platform will provide cryptocurrencies with a platform for trading with minimal cybercrime and fraud. He added that he believes banking can play a key role in preventing these scams and helping the cryptocurrency market grow in the country.
Panama’s Bitcoin Bank!
Officially trending as a bitcoin bank, Towerbank in Panama has a lot to offer bitcoiners with less complexity. Gabriel Campa said Towerbank only needs the necessary steps and a few documents from Bitcoin investors to open accounts with the bank. Bitcoiners and other crypto investors can easily exchange fiat currencies and other service providers through the bank.
With technology advancing on all fronts in today’s world, the financial sector is no different. Bitcoin, a type of cryptocurrency, is surely revolutionizing the financial sector in different countries around the world. There is some good news for the financial industry as the cryptocurrency takes its responsibilities and promises to show many bullish results in the future.