--- title: "Asset tokenization in Panama: no crypto law in force, an SMV and a strong trust industry" url: "https://www.unknowngravity.com/en/articulos/asset-tokenization-in-panama" site: Unknown Gravity published: "2026-09-21T12:09:02+00:00" modified: "2026-09-21T12:27:00+00:00" language: en-US description: "Panama passed a crypto-asset law in 2022 that never came into force: it was partially vetoed and later declared unconstitutional." section: "Home > Cryptocurrencies and tokens > Asset tokenization in Panama: no crypto law in force, an SMV and a strong trust industry" --- # Asset tokenization in Panama: no crypto law in force, an SMV and a strong trust industry BLOG · LEARN WEB3 21 SEP 2026 2 MIN READ [Jesús Sánchez Fernández](/en/autores-post-del-blog/jesus-sanchez) ![Asset tokenization in Panama: no crypto law in force, an SMV and a strong trust industry](/wp-content/themes/unknowngravity/assets/cms/667951006e75818d48be6f95_Tokenization%20in%20real%20estate%20header.webp) **Panama passed a crypto-asset law in 2022 that never came into force: it was partially vetoed and later declared unconstitutional.** Today there is no specific framework, but there is what an issuer needs: a Securities Market Superintendence with clear rules for securities, and one of the largest trust and corporate-services industries in the region. ## The framework: SMV and the absence of a crypto law The **Securities Market Superintendence (SMV)** regulates public offerings, issuers and intermediaries under the securities market law; a tokenized security goes through there. Crypto-assets as such have no law in force after the failure of Law 129 — providers operate under general anti-money-laundering duties and the supervision of their regulated activities, not under a VASP registry of their own. The practical reading: structure as a security, not as a crypto-asset. ## The vehicle: the Panamanian trust The trust of **Law 1 of 1984** (reformed in 2017) is one of the most used figures in Central America, with trustees licensed by the Superintendence of Banks. It is the Panamanian variant of the Latin American [fideicomiso](/en/glosario/fideicomiso) and, alongside Panamanian corporations, the natural vehicle to isolate the asset and represent its rights in tokens. ## What is being tokenized Real estate (Panama City concentrates regional investment), logistics and assets tied to the canal and the free zone, and corporate debt. The reading for an issuer: Panama is a structuring hub and a gateway to Central American and Caribbean investors; the tokenization that works there is the one that respects the SMV standard. ## How we work with issuers in the country The anatomy does not change from country to country: classification of the asset, a vehicle with segregated assets, a token with transfer restrictions, verified identity on every transfer and serious custody — the [seven-layer platform](/en/articulos/regulated-tokenization-platform) we build, with the local legal layer on top and a local counsel alongside. The full map of the region is in [tokenization in Latin America](/en/articulos/asset-tokenization-in-latin-america). *Framework described as of mid-2026; regimes change — check the current status before structuring.* Project in Panama? [Talk to us](/en/meeting). KEEP READING ## Related articles [21 SEP 2026 Asset tokenization in Bolivia: the Central Bank turn of 2024, ASFI and the trust](/en/articulos/asset-tokenization-in-bolivia) [21 SEP 2026 Asset tokenization in Venezuela: a crypto framework on hold, SUNAVAL and how to structure under uncertainty](/en/articulos/asset-tokenization-in-venezuela) [21 SEP 2026 Asset tokenization in Guatemala: no crypto law, the Securities Market Registry and the commercial trust](/en/articulos/asset-tokenization-in-guatemala)