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Panama, in 2021, launched a legislative initiative to enable crypto payments nationwide, but after gaining some traction, it stalled in 2022, was partially vetoed by President Laurentino Cortizo, and was ultimately declared unenforceable by the Supreme Court in 2023
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
Mayer Mizrachi, Mayor of Panama City, announced that the city will accept Bitcoin, Ethereum, USDC, and USDT for payments such as taxes, permits, and other fees.
Panama City's municipal government is legally required to accept payments in U.S. dollars, which, along with the USD pegged Balboa, is considered legal tender.v
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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