Panama neither bans crypto nor licenses it, and the two facts sit together. The Superintendencia del Mercado de Valores stated in Opinión 04-2025 of 27 August 2025 that cryptocurrencies such as ether and bitcoin are not among the products of the activities it supervises - investing for client account in securities, financial instruments and currencies - so regulating, supervising or overseeing crypto-related activity falls outside its competence, and a business built on custody and facilitation of crypto exchange needs no licence, registration or special authorisation from it.
A perpetual on NBIS tracks price and does not confer ownership of the underlying — the same contract mechanics apply in every jurisdiction; what differs by country is legal status and funding rails.
8 venues open Nebius Group perps to traders in Panama.
Aster
gTrade
Hyperliquid
Lighter
Ondo
VestFour steps from sign-up to an open position.
The Dirección General de Ingresos states the general territorial principle: income tax is owed by whoever receives income from activities carried out in Panamanian territory, irrespective of nationality, domicile or residence, and the annual return covers income and the expenses originated or caused in Panama that produced the taxed profit.
Trading NBIS from Panama: legal.
Panama traders can fund Nebius Group positions using USDT P2P (PAB) and Yappy.
On Canborsa, traders in Panama can use up to 10x leverage on Nebius Group.
On Canborsa, Nebius Group trading from Panama costs 0.07% per side.