However, Mizrachi clarified that the municipal government has a legal requirement to accept these funds only in USD. It will exchange cryptoassets for cash with a partnered bank, presenting a severe limit to potential crypto adoption
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Panama City to Accept Crypto Payments, But Settled in US Dollar
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Panama city government, to circumvent the legal obligation of accepting only USD, will accept crypto payments and immediately convert them to dollars through a partnered bank
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Panama City, by accepting crypto payments and converting them to USD, should increase the free flow and usability of digital assets locally, but true adoption will depend on broader structural and legal integration across the national economy
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