Panama's capital to accept crypto for taxes, municipal fees 🇵🇦
Panama City will start accepting cryptocurrencies, including Bitcoin, Ethereum, USDC, and USDT, for taxes and municipal fees. Mayor Mayer Mizrachi announced that the local government is partnering with a bank to convert crypto payments into US dollars instantly.
This move aligns Panama City with jurisdictions worldwide adopting similar measures, such as Colorado and Lugano, which have already implemented cryptocurrency for tax payments. The initiative is part of a broader trend of governments exploring blockchain for its financial applications amid rising global interest.
The Panama government's decision reflects a growing acceptance of digital currencies in public finance.
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