A few hours after President Bukele approved the use of Bitcoin as legal tender in El Salvador, a deputy minister from Panama spoke about the next government projects. After that, the effect of the laser eye movement was extremely strong in Central American countries, including Panama.

And that Ukraine and Panama plan to follow in El Salvador’s crypto footsteps is expected by experts by the end of the year.

Ukraine and Panama plan to follow in El Salvador’s crypto footsteps

Panama launches cryptocurrency law to take advantage of new blockchain technology. This Bitcoin rollout aims to make Panama a new source of employment and make national operations more visible.

The decree provides legal, financial and regulatory security so that all citizens of Panama can easily use, store and exchange cryptocurrencies. This legitimate project is designating Bitcoin as a legal cryptocurrency and another popular cryptocurrency including Ethereum, ADA, and Solana.

While Panama was activated with its crypto project, a legal scheme is activated in Ukraine that benefits crypto. However, the regulation is not as free as the Panama Treaty, which only aims to regulate cryptocurrencies. Ukraine is trying to control decentralized currencies and give them a value pegged to the local currency, the hryvnia.

Ukraine will normalize cryptocurrency trading with one currency they will be issuing, possibly stablecoins. These actions to introduce cryptocurrencies have also been observed in China, where the YenCoin coin is being issued.

Ukraine and Panama plan to follow in El Salvador’s crypto footsteps – starting signal for the crypto adoption boom

The cryptocurrency gained popularity from last year to May when the bitcoin price hit $ 64,000. With a price this high, it’s a surprise that Bitcoin is losing up to 50% of its value. Today, Bitcoin is one of the most commercialized currencies, so companies like Visa have tried to create decentralized payment systems.

Latin countries like El Salvador, Panama, Cuba, Venezuela, Brazil, Colombia, and Argentina have opened their doors to the adoption of Bitcoin, which has improved its value. Taking this wave of introductions into account, the future of Bitcoin and cryptocurrencies may displace the current financial markets.

Currently, this new Bitcoin launch brings the cryptocurrency to a market capitalization of $ 859,171,183,394 and a global supply of over 18 million BTC, according to CoinMarketCap. The cryptocurrency has a constant price of $ 45,669, with a brief recovery of 0.95% in 24 hours. Bitcoin could reach a new milestone with its high before the end of the year.

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