Panama City announced that it would accept BTC, ETH, USDT for taxes, fines and fees, and the government adopted Bitcoin +1

Mayer Mizrachi, Mayor of Panama City, the capital of the Republic of Panama, announced that the Panama City Council has officially voted for a historic decision to allow Panama City to officially accept cryptocurrency payments, and citizens can now pay taxes, fines, and more using Bitcoin (BTC), Ether (ETH), USD stablecoins USDC and USDT. (Synopsis: SONY opens cryptocurrency payments: Singapore online store supports USDC, next stop Playstation?) (Background added: 300-year-old British "Lloyd's Insurance" embraces blockchain: accepts cryptocurrency to pay premiums) Mayer Mizrachi, mayor of Panama City, capital of the Central American country of the Republic of Panama, announced yesterday (16) on social platform X that the Panama City Council has officially voted for a historic decision to allow Panama City to officially accept cryptocurrency payments, and citizens can now use Bitcoin (BTC), Ether (ETH), the US dollar stablecoin USDC and USDT pays taxes, fines, and more: The Panama City Council just voted in favor of becoming the first government public institution to accept cryptocurrency payments. Citizens will now be able to pay taxes, fines, license fees, and more entirely in cryptocurrencies, including Bitcoin (BTC), Ether (ETH), USD stablecoins USDC and USDT. Panama City council has just voted in favor of becoming the first public institution of government to accept payments in Crypto. Citizens will now be able to pay taxes, fees, tickets and permits entirely in crypto starting with BTC, ETH, USDC, USDT@APompliano @aantonop… — Mayer Mizrachi ( @Mayer) April 15, 2025 Bypassing legislation to enable cryptocurrency payments Mayor Mizrachi further revealed in an X post that the success of this initiative is due to the innovative cooperation model between the Panamanian city government and the bank. "Previous administrations have tried to push legislation in the Senate to achieve this, but we have found an easy way to do without new legislation," he said. According to Panamanian law, public institutions must receive funds in US dollars, so the municipality works with a bank that is responsible for receiving cryptocurrency transactions and converting them into US dollars in real time. This model not only complies with regulatory requirements, but also allows cryptocurrencies to circulate freely throughout the economy and government system. Global Trends: Public Institutions Embrace Cryptocurrencies It is worth mentioning that Panama City's move is not an isolated case, and several public institutions and charitable organizations around the world have begun to accept or experiment with cryptocurrencies as a payment option, here are some of the main current examples: El Salvador: As the first country in the world to list Bitcoin (BTC) as legal tender, El Salvador's government agencies have widely accepted BTC as a payment for taxes and utilities, becoming a pioneer in cryptocurrency applications. Zug, Switzerland: Known as the "Crypto Valley," the canton of Zug allowed people to pay taxes with Bitcoin and Ethereum in February 2021. New York: The New York State Assembly is considering a bill that would authorize state agencies to accept bitcoin (BTC), ether (ETH) and Litecoin (LTC) for fines, taxes, etc., which, if passed, would become the first state-level government in the United States to widely use cryptocurrencies. Charities: Several charitable organizations around the world have accepted cryptocurrency donations, such as the United Nations Children's Fund (UNICEF) in the United States that accepts Bitcoin (BTC) and Ether (ETH), and recently, the World Food Program (WFP USA) announced on April 8 that the agency will begin accepting assistance from more than 80 cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH) and other related reports SONY opens cryptocurrency payments: Singapore online store supports USDC, next stop Playstation? Visa tests "credit card for gas fees"! Cryptocurrency payment through account abstraction Fiji's central bank prohibits "cryptocurrency payment, investment", credit card buying is also illegal (Panama City announced that it accepts BTC, ETH, USDT to pay taxes, pay fines and fees, and the government uses Bitcoin and then +1) This article was first published in BlockTempo "Dynamic Trend - The Most Influential Blockchain News Media".