Guinea-Bissau vs Panama
Crypto regulation comparison
Guinea-Bissau
Panama
No Regulation
Legal
Guinea-Bissau has no specific cryptocurrency regulation. As a WAEMU member, it falls under BCEAO oversight.
Panama passed Law 129 in 2024 regulating crypto assets, virtual asset service providers, and tokenized securities. Panama has no capital gains tax on foreign-sourced or investment income, making it attractive for crypto investors. The law provides a regulatory framework for exchanges and establishes AML/KYC obligations for VASPs.
Tax Type
None
Tax Type
None
Tax Rate
N/A
Tax Rate
0%
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
BCEAO (Central Bank of West African States)
Regulator
SBP (Superintendencia de Bancos de Panamá), SMV
Stablecoin Rules
No stablecoin regulation
Stablecoin Rules
No specific stablecoin regulation
Key Points
- No specific national cryptocurrency legislation
- BCEAO provides regional monetary oversight
- Part of the WAEMU monetary zone using the CFA franc
- Very limited crypto adoption
- No licensing framework for crypto businesses
Key Points
- Law 129 (2024) regulates crypto assets and VASPs in Panama
- No capital gains tax on investment or foreign-sourced income (territorial tax system)
- VASPs must comply with AML/KYC requirements under the new framework
- Crypto payments for commercial transactions are permitted
- Panama's territorial tax system means crypto gains from international trading are untaxed