Panama's capital to accept crypto for taxes, municipal fees
Article
Publish date
Apr 16, 2025 - 12:00am
Publisher
Cointelegraph
Web URL
https://cointelegraph.com/news/panama-city-votes-accept-crypto-taxes-fees
Referenced by
Panama City Council approves crypto payments for public services
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The US state of Colorado started accepting crypto payments for taxes in September 2022. Much like Panama City said it will do, Colorado immediately converts the crypto to fiat.
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Mizrachi said previous administrations attempted to push through similar legislation but failed to overcome stipulations requiring the local government to accept funds denominated in US dollars. In a translated statement, the Panama City mayor said that the local government partnered with a bank that will immediately convert any digital assets received into US dollars, allowing the municipality to accept crypto without introducing new legislation.
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