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Not long after El Salvador implemented a new law mandating the acceptance of Bitcoin by merchants and airdropping some to every citizen, Panama has since proposed its own crypto law. In contrast, however, Panama's new law is much less heavy-handed and more voluntary, is generic to cryptocurrency including explicit mentions of Ethereum, and goes into territory such as decentralized autonomous organizations (DAOs). More importantly though, this kicks off an "arms race" of competition between jurisdictions to offer the most complete crypto regulatory framework. This could be the beginning of a new era!
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