Panama City Explores Bitcoin Payment Initiatives Inspired by El Salvador

According to PANews, Panama City's Mayor Mayer Mizrachi announced at the Bitcoin 2025 conference that the city is considering adopting a Bitcoin payment system similar to El Salvador's model. The city has already passed legislation allowing residents to pay municipal fees, such as taxes and parking, using Bitcoin, Ethereum, and certain stablecoins. Mizrachi highlighted plans to offer priority passage through the Panama Canal for ships paying tolls with Bitcoin and is contemplating establishing a municipal Bitcoin reserve. This initiative is directly inspired by El Salvador's President Bukele, whose country became the first to adopt Bitcoin as legal tender four years ago. The Panama Canal Authority has yet to formally respond to the cryptocurrency payment proposal. The canal generated $4.9 billion in toll revenue in the 2024 fiscal year, handling an average of 30-40 ships daily.