24th Parliamentary Intelligence-Security Forum – Crypto Assets / Cryptocurrencies

Mr. Rodriguez spoke about the threats that have been identified with the misuse of crypto assets, the challenges that cryptocurrency investigations have, the difficulty of investigating cybercrime, and the work done to improve the capacities of Panama and other countries to respond to this type of crime. These threats include the creation of complex structures to launder money or the creation of companies dedicated to the exchange of these crypto assets, which can be used to scam people. These threats are not limited to a single country, but affect cross-border. The use of crypto assets in criminal offenses is not a crime, but rather a tool that facilitates the commission of a crime. It is not necessary to reform the penal code as such, but to understand that this is only an accessory part of the conduct that is being committed.

As an example, Mr. Rodriguez explained that a traditional scam committed through technological means can be converted into cryptoactives. It is up to the investigator to understand how that part works to be able to investigate it and obtain quality information or clues.