The Panama City Council voted to become the first government institution in the country to accept cryptocurrency payments.
Citizens will be able to use currencies $BTC , $ETH , $USDC , and USDT to pay taxes, fees, fines, and permits, according to Mayor Mizrahi.
Although public institutions are legally required to accept payments in US dollars, the city will work with a bank to manage the conversion of cryptocurrencies to US dollars, allowing the initiative to move forward without the need for new legislation.
