TechFlow, April 17 — According to The Block, Panama City's municipal government has officially approved the use of cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), USDC, and USDT to pay taxes, fees, fines, and licenses. Mayor Mayer Mizrachi Matalon announced on Wednesday that the city implemented this policy by partnering with cooperating banks, which will instantly convert cryptocurrencies into U.S. dollars at the time of payment, without requiring new legislation. Panama City joins other global jurisdictions like Detroit and Colorado that already allow cryptocurrency for municipal payments.
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