Panama's capital to accept crypto for taxes, municipal fees

Panama’s capital city will accept cryptocurrency payments for taxes and municipal fees, including bus tickets and permits, Panama City mayor Mayer Mizrachi announced on April 15, joining a growing list of jurisdictions globally that have voted to accept such payments. Panama City will begin accepting Bitcoin (BTC), Ether (ETH), Circle's USDC (USDC), and Tether's USDt (USDT) stablecoin for payment once the crypto-to-fiat payment rails are established, Mizrachi posted on the X platform. Mizrachi said previous administrations attempted to push through similar legislation but failed to overcome stipulations requiring the local government to accept funds denominated in US dollars. In a translated statement, the Panama City mayor said that 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 source: https://cointelegraph.com/news/panama-city-votes-accept-crypto-taxes-fees?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound