Panama City Embraces Cryptocurrency Payments for Public Services

Panama City is taking steps into the world of digital finance by approving cryptocurrency payments for various public services. Mayor Mayer Mizrachi announced that the city council has voted to accept Bitcoin (BTC), Ethereum (ETH), USD Coin (USDC), and Tether (USDT) as payment methods for taxes, fees, tickets, and licenses. This move requires all public institutions to receive payment in U.S. dollars. To enable these transactions, the city partnered with a bank specifically designed to handle cryptocurrency exchanges.