Panama City Will Accept Bitcoin, Ethereum as Payment for Public Services
Panama City will accept cryptocurrencies for public services, following a proposal passed by the city council. Payments can be made using Bitcoin, Ethereum, USDC, and Tether (USDT). Mayor Mayer Mizrachi stated that this initiative does not require new legislation, as previous attempts to push a bill in the senate were unsuccessful. The city will partner with banks to facilitate the conversion of digital assets to fiat currency for transactions. This move aligns with a global trend of increasing cryptocurrency adoption, highlighted by El Salvador's recognition of Bitcoin as legal tender and similar actions in other countries. However, Panamanian lawmakers have shown mixed support for crypto regulations, with President Laurentino Cortizo previously vetoing a bill aimed at regulating Bitcoin and decentralized organizations.
