According to Foresight News, Panama City's Mayor Mayer Mizrachi has announced that the city council has voted in favor of accepting cryptocurrency payments. Citizens can now use cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), USD Coin (USDC), and Tether (USDT) to pay taxes, fees, tickets, and licenses.
The legislation mandates that public institutions must receive funds in U.S. dollars. To facilitate this, the city has partnered with a bank responsible for handling cryptocurrency transactions.
