Panama City Approves Use of Bitcoin, Ethereum for Taxes and City Services
The capital of Panama will begin accepting cryptocurrency payments for certain services, Panama Mayor Mayer Mizrahi announced in a post on X.
Author: Shaurya Malwa | Edited by: Parikshit Mishra Updated: April 17, 2025, 04:32 PM Published: April 17, 2025, 06:53 AM
Important points:
Panama City citizens will soon be able to pay taxes, parking fines, permits and other fees using Bitcoin (BTC), Ether (ETH) and stablecoins USDC and Tether (USDT), the city's mayor, Mayor Mayer Mizrahi, announced Wednesday evening.
“Previous administrations tried to push a bill in the Senate to do this, but we found a simple way to do it without the need for new legislation,” Mizrahi said in a post on X. “By law, government agencies must receive funds in US dollars, so we partner with a bank that will process the transaction, receiving the cryptocurrency and converting it to US dollars on the spot.
“This ensures the free movement of cryptocurrency throughout the economy and within government,” he added.
