Capital Panama to accept crypto for taxes, municipal fees

The capital of Panama will accept the cryptocurthnity of taxes and municipal fees, including bus tickets, Mayor Mizrachi announced 15. April, joining the growing list of jurisdictions around the world.

Panama City will begin to accept Bitcoin (Btc), Ether (El), Circle is USDC (USDC) and Tether’s USDT (USDTT) StableCoin for payment Once the Fiat-for-FIAT payment rail is established, MIZRACHI has published on the X platform.

Mizrachi said that the previous governments tried to encourage themselves through similar legislation, but failed to overcome the funds that required local government to accept the funds that were announced in US dollars.

In the translated statement, the Mayor of Panama said that the local government was in partnership with a bank that would immediately turn any digital property received in US dollars, allowing the municipality to accept the crypt without introducing new legislation.

The city of Panama has joined the growing lists of global jurisdictions at the municipal and state-level, which accepts the payment of cryptocurrency for taxes, strategic reserves Bitcoin Protect public treasuries from inflation and passing pro-crypto policies to attract investment.

Related: New York Bill proposes legalizing Bitcoin, CRIPTO for state payments

Municipalities and States accept digital property

Several municipalities and territories around the world are already accepting the CRIPTO for tax payments or explore different implementations of Blocchain technology for state consumption.

The US state in Colorado began Accepting CRIPTO PAYMENT For taxes in September 2022. Years. Like Panama City, he said he would do it, Colorado immediately turns the crypt in Fiat.