Crypto Chaos: Panama City’s Bold Bet on Bitcoin for Taxes—Is Your Wallet Ready?

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  • Panama City has decided that paying taxes with Bitcoin, Ethereum, USDC, and Tether is the latest thing, or as they say in the crypto world, “hodl” your bills!
  • The mayor reckons converting crypto to dollars behind the scenes is the cleverest workaround since cheese on toast.

So, dear reader, Panama’s capital is now letting you flash your digital coins—Bitcoin [BTC], Ethereum [ETH], USD Coin [USDC], and Tether [USDT]—to settle those ever-cheerful city taxes and fees. It’s the 21st century version of shaking the proverbial tin, but this time with some blockchain bling.

In a spot of modern-day town crier on X (formerly Twitter, because even the bird got bored), Panama City’s mayor, Mizrachi Matalon, chattily announced on 15th April:

“Citizens will now be able to pay taxes, fees, tickets, and permits entirely in crypto, starting with BTC, ETH, USDC, and USDT.”

But don’t get too carried away expecting a crypto carnival just yet—these savvy payments will be nimbly flipped into U.S. dollars by partner banks faster than you can say “blockchain,” without waiting around for parliament mumbo jumbo to catch up.

Apparently, previous administrations played the crypto dodgeball badly, so this nifty crypto-to-fiat rail method is the mayor’s cheeky way to leap beyond the legislative quagmire. Ingeniously modern, rather like a butler who also dabbles in quantum physics.

Bitcoin and Altcoins Making Mischief Worldwide

The world isn’t standing still on this one—no siree. Cities are catching on like a case of the giggles at a Wodehouse dinner party. Lugano in Switzerland started waving Bitcoin and Tether around for municipal bills back in December 2023, proving that even the Swiss can be a touch adventurous.

Not to be outdone, Vancouver in Canada took the plunge last December 2024, making Bitcoin a part of their fiscal family and giving citizens a chance to pay taxes with something less tedious than loonies and toonies.

Meanwhile, the American states of Colorado and North Carolina eyed the crypto pie with interest, pondering if digital dough might just be the spice of life.

Elsewhere, the tropical paradise of Vanuatu invites you to pony up in Bitcoin for citizenship applications, because what says “welcome” better than digital gold?

Of course, not all are smitten—El Salvador decided in early 2025 to give Bitcoin the old heave-ho when it came to tax payments, proving not every romance with crypto is built to last.

Still, if Uncle Sam ever puts the stablecoin stamps of approval on pending bills this summer, expect a tidal wave of digital coinage making its way to cash registers and tax counters alike. Buckle up, it’s going to be a bumpy, if amusing, ride! 💸🚀

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2025-04-18 08:14