The City of Panama becomes a pioneer in Latin America by allowing the payment of municipal taxes using cryptocurrencies. Thanks to an agreement authorized by the Municipal Council and negotiated with Towerbank, citizens will be able to use their digital assets to fulfill their tax obligations.
💡 How will it work?
Although the municipality will not directly manage cryptocurrencies, Towerbank will act as an intermediary, converting crypto assets into dollars before transferring them to the local government. This system ensures that the use of cryptocurrencies is voluntary and does not replace other traditional payment methods.
🌐 Why is it important?
This initiative positions Panama as a reference in financial innovation in the region. Experts highlight that the measure promotes fiscal transparency and could inspire other municipalities to adopt similar strategies.
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