According to the local media outlet, the Laurentino Cortizo's major concern is that the bill does not sufficiently adapt digital assets to the rules that regulate the Panamanian banking system.
Panama's President Laurentino Cortizo, whose signature is needed for the bill to progress, said he would not sign it without getting certain confirmations first.
The Panamanian parliament approved the bill filed in September seeking to regulate digital assets in the country and commissioning blockchain technology use in parliament.
A Panamanian lawmaker has introduced a new bill seeking to legalize and regulate digital currencies in the country, following the steps of El Salvador.
Gutenberg Dos Santos will now stand trial in a New York court together with four others who were arrested in the United States.