The Panama City Council, as reported by Mayer Mizrachi, has voted to become the first government institution in Panama to accept cryptocurrency payments for public services. Residents can now pay taxes, fees, tickets, and permits using Bitcoin (BTC), Ethereum (ETH), USD Coin (USDC), and Tether (USDT).

This move allows for the integration of cryptocurrencies into municipal operations in Panama City, despite the legal requirement for public institutions to receive funds in USD.

To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io