Panama City just smashed old-school rules, becoming the first public spot in Panama to take crypto for taxes and services on April 15, 2025, thanks to Mayor Mayer Mizrachi’s gutsy call. Bitcoin, Ethereum, USDC, USDT—pick your digital poison, no extra fees. It’s a voluntary deal, so cash-lovers aren’t screwed. Honestly, it’s a slap to tradition, aiming to help the unbanked. Stick around; there’s more to this wild story.
Buckle up, folks—Panama City just dropped a bombshell. On April 15, 2025, Mayor Mayer Mizrachi announced that the city council unanimously voted to accept cryptocurrency for municipal services. Yeah, you heard that right. Taxes, fees, bus tickets, permits, even fines—now payable in Bitcoin, Ethereum, USDC, and USDT. Panama City‘s the first public institution in the country to pull this off, strutting its stuff as a progressive hotspot in Latin America. Talk about flexing on the neighbors.
Panama City’s making waves! Mayor Mizrachi just announced crypto payments for taxes, fees, and more. Bitcoin, Ethereum—welcome to the future, folks!
This isn’t some half-baked scheme either. They’ve partnered with Towerbank International and Towertrust Inc. to handle the crypto-to-fiat conversion. Crypto goes in, gets swapped to US dollars on the spot, and the city stays legally compliant since public funds must be in USD. No new laws needed. Clever, huh? The system also protects the city from crypto market volatility through these real-time conversions.
While national crypto bills like Law 697 got tangled in vetoes and Supreme Court drama—heck, President Cortizo partially axed it in 2022 over AML concerns, and it was later deemed unconstitutional in 2023—Panama City just sidestepped the mess. Take that, bureaucracy. With DeFi growth transforming financial services globally, the timing couldn’t be better for this initiative.
Now, residents can settle civic duties with crypto, no extra fees attached. It’s voluntary, so traditional cash folks aren’t forced into anything. Unbanked or underbanked? This could be a game-changer. Even expats abroad can pay up digitally. Transactions on the blockchain? Transparent as glass. Mayor Mizrachi’s vision is to integrate digital assets seamlessly, aiming to position Panama as a leading crypto hub in the region.
Plus, it modernizes the city’s financial setup, potentially luring fintech and blockchain firms. Panama’s territorial tax system—yep, no tax on foreign income—already tempts crypto users, and this just sweetens the pot.
Look, this mirrors Colorado’s 2022 crypto tax move, which, honestly, flopped in uptake. But Panama City’s not holding the crypto itself—smart move for risk-averse types. Other jurisdictions might take notes.
Will this pressure nearby nations or spark national crypto debates? Maybe. For now, it’s a bold step, a middle finger to tradition. Payments for everyday government stuff, now in crypto? Wild. It’s accessible, inclusive, and a bit of a slap to the old guard. Panama City’s playing the long game—let’s see who blinks first.
