Panama City, in the heart of Central America, just flipped the script on how you pay for public services.

Forget fumbling with cash or cards, now you can cough up your taxes, fees, tickets, and permits using Bitcoin, Ethereum, and even stablecoins like USDC and USDT.

Crypto is officially rolling into the city’s everyday life, and it’s not some pie-in-the-sky idea anymore.

Roundabout ways

This move was announced on April 16 by Mayor Mayer Mizrachi Matalon, who’s basically telling the world, we’re done waiting for the Senate to get its act together.

Prior administrations tried to push a bill in the senate to make this possible, but we found a simple way to do it without new legistlation. Legally public institutions must receive funds in $, so we partner with a bank who will take care of the transaction receiving in crypto…

— Mayer Mizrachi (@Mayer) April 15, 2025

See, previous attempts to push crypto-friendly laws in Panama’s Senate hit the brakes hard. But Panama City?

They found a slick workaround. Instead of waiting for new laws, they teamed up with a local bank to handle the tricky part, turning your crypto payments into good old U.S. dollars on the spot.

That way, the city keeps the cash flowing legally and smoothly without breaking a sweat.

Blockchain magic

You want to pay your water bill or renew your driver’s license? Just send some Bitcoin or Ethereum, and boom, the city gets its dollars, you get your service. It’s like magic, but with blockchain.

Mayor Mizrachi proudly declared that Panama City is now the first government institution in the country to accept crypto payments. That’s a milestone, guys.

This isn’t happening in a vacuum tho. Earlier this year, Panama’s government rolled out a draft bill wanting to regulate cryptocurrencies and blockchain services nationwide.

The plan? To set clear rules for crypto, license Virtual Asset Service Providers, and clamp down hard on money laundering and shady business with strict AML and KYC rules.

Panama wants to be the fintech kingpin of Latin America, and this move puts it on the fast track.

Future

For some, crypto feels like that wild card you’re not sure you want at your poker table.

But Panama City’s gamble shows a city ready to accept the future, even if it means shaking up the old ways.

Imagine paying your parking ticket with Ethereum while grabbing a coffee nearby. It’s not sci-fi anymore.

Have you read it yet? Peter Schiff urges you to dump your Bitcoin, and bet on gold

Disclosure:This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Kriptoworld.com accepts no liability for any errors in the articles or for any financial loss resulting from incorrect information.