Following this announcement, the initiative which is led by The Chamber of Digital Commerce and Blockchain in collaboration with Global Ledger and Panama Legal Group is expected to train legal professionals, such as lawyers, prosecutors, judges, and other officials involved in crime prosecution, to supervise, analyse, and regulate financial activities such as the Superintendency of Banks, the Superintendency of the Securities Market, the Financial Analysis Unit, and the Directorate of Financial Companies of the Ministry of Commerce and Industry.
The program was developed to introduce products that identify digital wallet addresses, label risk profiles, and detect possible links to criminal activities, including terrorism financing. Through the use of these tools, participants will also gain a clearer understanding of the relationships between cryptocurrency addresses, helping them to identify criminal activities more efficiently.
The two-day training program is scheduled for November 20 and 21, and it will represent a part of Panama's broader strategy to modernise state processes, driven by the National Authority for Government Innovation.
By recognising the dual need to foster innovation while also preventing financial crime, the Panamanian government aims to strengthen its AML framework. This collaboration effort between private blockchain firms and public institutions will reflect a proactive approach to safeguarding the integrity of the overall burgeoning crypto sector of Panama as well.
Furthermore, the government is currently navigating regulatory pathways after the Supreme Court declared the bill unenforceable in July 2023 due to constitutional concerns. Programs like this training initiative seek to equip Panama’s legal and financial sector with the needed tools to monitor crypto payments and mitigate potential risks. This process is expected to enable the country to maintain a balance between regulatory compliance and sectoral development.
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