Editing Panama (section)

===Currency===
The Panamanian currency is officially the [[Panamanian balboa|balboa]], [[fixed exchange rate|fixed]] at a rate of 1:1 with the [[United States dollar]] since Panamanian independence in 1903. In practice, Panama is [[Dollarization|dollarized]]: U.S. dollars are [[legal tender]] and used for all paper currency, and whilst Panama has its own coinage, U.S. coins are widely used. Because of the tie to US dollars, Panama has traditionally had low [[inflation]]. According to the [[Economic Commission for Latin America and the Caribbean]], Panama's inflation in 2006 was 2.0 percent as measured by a weighted [[Consumer Price Index]].<ref>{{cite web |url=http://www.cepal.org/publicaciones/xml/2/27542/Anexo_estadistico.pdf |title=CEPAL.org |access-date=June 26, 2010 |archive-url=https://web.archive.org/web/20130824191044/http://www.cepal.org/publicaciones/xml/2/27542/Anexo_estadistico.pdf |archive-date=August 24, 2013 |url-status=dead }}</ref>

The balboa replaced the [[Colombian peso]] in 1904 after Panama's independence. Balboa banknotes were printed in 1941 by President Arnulfo Arias. They were recalled several days later, giving them the name "The Seven Day Dollars". The notes were burned by the new government, but occasionally balboa notes can be found in collections. These were the only banknotes ever issued by Panama and US notes have circulated both before and since.<ref>{{Cite book |last=Naylor |first=R. T. |url=https://www.worldcat.org/oclc/752267663 |title=Patriots and profiteers : economic warfare, embargo busting, and state-sponsored crime |date=2008 |publisher=McGill-Queen's University Press |isbn=978-0-7735-7489-2 |location=Montreal [Que.] |oclc=752267663 |access-date=December 21, 2022 |archive-date=February 5, 2024 |archive-url=https://web.archive.org/web/20240205142043/https://search.worldcat.org/title/752267663 |url-status=live }}</ref>

On April 28, 2022, Panama's lawmakers approved a bill that would legalize and regulate the use of bitcoin and other cryptocurrencies. The bill covers using cryptocurrency, trading it, tokenizing precious metals, and issuing digital securities, among other related topics. Its passing will also allow citizens to use their cryptocurrency holdings to pay taxes.<ref>{{Cite web |last=Hilaire and Moreno |date=April 28, 2022 |title=Panama passes bill to permit use of crypto assets |url=https://www.reuters.com/world/americas/panama-lawmakers-pass-bill-regulate-use-crypto-assets-2022-04-28/ |access-date=April 30, 2022 |website=Reuters.com |archive-date=April 30, 2022 |archive-url=https://web.archive.org/web/20220430032551/https://www.reuters.com/world/americas/panama-lawmakers-pass-bill-regulate-use-crypto-assets-2022-04-28/ |url-status=live }}</ref> On July 14, 2023, the Supreme Court of Justice declared the bill unenforceable.<ref>{{Cite web|title=Corte declaró inexequible proyecto de ley que regula uso de criptomonedas|trans-title=Court declared unenforceable bill regulating use of cryptocurrencies|url=https://www.laestrella.com.pa/economia/230714/corte-declaro-inexequible-proyecto-ley-regula-criptomonedas|website=La Estrella de Panamá|language=es|last=Guerrel|first=Ismael Gordón|date=July 14, 2023|access-date=July 28, 2023|archive-date=July 27, 2023|archive-url=https://web.archive.org/web/20230727170439/https://www.laestrella.com.pa/economia/230714/corte-declaro-inexequible-proyecto-ley-regula-criptomonedas|url-status=live}}</ref>