Panama Passes Law to Regulate Bitcoin

Panama’s legislature approved a bill to regulate the use of cryptocurrencies in the country. The crypto law states that it “regulates the trading and use of crypto-assets, the issuance of digital value, tokenization of precious metals and other assets, payment systems and other provisions.” The country’s citizens will be able to buy everyday goods with crypto.

Crypto prices today: Bitcoin down 1.5%, ETH falls 1.7%

Bitcoin is currently trading at $39,170.7 a 1.5% decline over the previous day. Ethereum is down 1.7% over the last 24 hours to $2,884.63. Solana fell 3.82% to $96.52, while Cardano is trading lower by 3.2% at $0.822. Terra (LUNA) fell 6.10% to $86.11. The global crypto market cap stands at $1.79 trillion, a 1.65% decline over the previous day.

Telegram users can now send crypto via the messaging app

The Open Network (TON), a decentralized blockchain initially designed by Telegram, is adding a bot that lets more than 550 million users send crypto to other users via chat. The initial rollout of the “wallet” bot will allow users to send and receive Toncoins, which the developers claim will come with no transaction fees.

Goldman Sachs makes its first Bitcoin-backed loan

Goldman Sachs has offered its first Bitcoin-backed loan. It has a secured lending facility that allows a borrower to use Bitcoin (BTC) as collateral for a cash loan. Goldman’s dedicated digital assets team traded its first over-the-counter Bitcoin options to Galaxy Digital last month.