The capital of Panama will accept cryptocurrency payments for taxes, licenses, and fines

ChainCatcher news, according to The Block, Panama City Mayor Mayer Mizrachi Matalon posted on the X platform on Wednesday that the Panama City government has approved the use of cryptocurrency to pay taxes, fees, fines, and permits. Local media confirmed that the city will accept Bitcoin, Ethereum, USDC, and USDT. Mizrachi stated that the capital of Panama implemented this policy by partnering with a cooperative bank to convert cryptocurrency into US dollars at the time of payment, without the need to enact new laws.