Panama City to accept Bitcoin (BTC), Ether (ETH), USDC, and USDT for taxes

Panama City's mayor Mayer Mizrachi announced on April 15 that the city will accept cryptocurrency payments

Panama's capital city will begin accepting Bitcoin (BTC), Ether (ETH), Circle's USDC (USDC), and Tether's USDt (USDT) stablecoin for payment for taxes and municipal fees, including bus tickets and permits.

The city of Panama City will start accepting cryptocurrency for payment once the crypto-to-fiat payment rails are established, mayor Mayer Mizrachi announced on April 15.

"Good news for those who use cryptocurrencies! Now you will be able to pay your municipal taxes, bus tickets, permits and more with Bitcoin, Ethereum, USDC and USDT in the capital," Mizrachi posted on the X platform.

"Previous administrations attempted to introduce this measure but could not overcome the stipulations that require the municipal government to accept funds denominated in US dollars," he added.

To this end, the local government partnered with a bank that will immediately convert any digital assets received into US dollars, allowing the municipality to accept crypto without introducing new legislation.

"In an historic move for the capital, we are going to accept cryptocurrencies as a form of payment for municipal services in Panama City."

The city will accept BTC, ETH, USDC and USDT for payment of taxes and municipal fees, including bus tickets, permits and more.

The mayor of Panama City, Mayer Mizrachi, announced that the city will begin accepting cryptocurrency payments for taxes and municipal fees.

The initiative, which is set to launch in the coming months, will allow residents of the capital to pay their taxes, bus tickets, permits and other municipal fees using Bitcoin, Ethereum, USDC and USDT.

The move comes as part of a broader effort by the city to become more technologically advanced and to provide its residents with greater payment flexibility.

"We are always looking for ways to improve the lives of our residents and to make our city more attractive to investors and visitors," Mizrachi said in a statement.

"This initiative will do both. It will give our residents the opportunity to pay their municipal fees and taxes with the cryptocurrency of their choice, and it will send a clear message to the world that Panama City is a technologically advanced and pro-business city."

The city will partner with a local bank to process the cryptocurrency payments. The bank will immediately convert the cryptocurrency to US dollars, which is the currency used by the city for its operations.

"We are excited to partner with the city of Panama City on this initiative," said the bank's CEO.

"We are committed to providing our customers with the latest and greatest technological solutions, and we believe that this partnership will be a win-win for everyone involved."

The city is planning to hold a launch event in the coming months to formally introduce the cryptocurrency payment option to the public.

Several municipalities and territories around the globe are already accepting crypto for tax payments or exploring various implementations of blockchain technology for government spending.

The US state of Colorado started accepting crypto payments for taxes in September 2022. Much like Panama City said it will do, Colorado immediately converts the crypto to fiat.

In December 2023, the city of Lugano, Switzerland, announced taxes and city fees could be paid in Bitcoin, which was one of the developments that earned it the reputation of being a globally recognized Bitcoin city.

The city council of Vancouver, Canada, passed a motion to become "Bitcoin-friendly city" in December 2024. As part of that motion, the Vancouver local government will explore integrating BTC into the financial system, including tax payments.

North Carolina lawmaker Neal Jackson introduced legislation titled "The North Carolina Digital Asset Freedom Act" on April 10. If passed, the bill will recognize cryptocurrencies as an official form of payment that can be used to pay taxes.

As part of a broader effort to become more technologically advanced, the city of Panama City will begin accepting cryptocurrency payments for taxes and municipal fees.

The initiative, which is set to launch in the coming months, will see the capital city accept Bitcoin, Ether, USDC and USDT for payment of taxes, bus tickets, permits and other municipal fees.

"Good news for those who use cryptocurrencies! Now you will be able to pay your municipal taxes, bus tickets, permits and more with Bitcoin, Ethereum, USDC and USDT in the capital," mayor Mayer Mizrachi announced.

"Previous administrations attempted to introduce this measure but could not overcome the stipulations that require the municipal government to accept funds denominated in US dollars. Thanks to an alliance with a local bank, which will immediately convert the digital assets to US dollars, we will be able to accept these forms of payment in the capital from April."

The city will partner with a local bank to process the cryptocurrency payments. The bank will immediately convert the cryptocurrency to US dollars, which is the currency used by the city for its operations.

"We are excited to partner with the city of Panama City on this initiative," said the bank's CEO.

"We are committed to