Panama City makes history by accepting crypto payments for public services!

​Panama City has become the first government institution in Panama to accept cryptocurrency payments for public services, including taxes, fees, tickets, and permits. The city will accept Bitcoin (BTC), USDC, and USDT. To comply with national laws requiring transactions in U.S. dollars, the city has partnered with a local bank to instantly convert crypto payments into dollars. This initiative allows Panama City to integrate digital currencies into public services without new legislation. It follows the government's proposed regulatory framework for cryptocurrencies, which includes licensing for Virtual Asset Service Providers and strict AML and KYC regulations.