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The Legislative Assembly’s economic affairs committee of Panama approved a bill on Thursday regulating the use of cryptocurrencies. Panamanian congressman Gabriel Silva said the bill aims to “provide legal stability for crypto assets in Panama” and to “develop the country’s crypto industry to attract more investment and create more jobs.” The bill also encourages the Panama government to adopt blockchain technology “to increase the transparency and efficiency of the procedures.” After receiving the committee’s approval, the bill goes through two rounds of debate before it goes to the president, who has the power to veto or sign the law.
Microstrategy CEO Michael Saylor has dispelled the rumor that his company has been quietly selling bitcoin and pointed out any Bitcoin sales must be publicly disclosed to SEC and shareholders. BTC is down 2% over the last 24 hours and has fallen to an intraday low of $38,693.12. The largest broke below the psychological level at $40,000 on April 22, and the bulls were unable to pull the price above this level during the weekend, indicating the bears have built a strong advantage. BTC could find its support in the $36,000-$37,000 zone. If the price rebounds off this zone with strength, it will indicate that the bulls are buying on dips. However, if the price breaks below this zone, the price could drop to $32,000.
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