Panama City appears to be making calculated moves towards embracing digital currencies, potentially positioning itself alongside crypto-friendly jurisdictions in Latin America. This push seems to be spearheaded by the city’s mayor, indicating a strategic shift towards greater digital asset integration at the municipal level.
Mayor Signals Crypto Intent
Mayor Mayer Mizrachi recently fueled speculation regarding the city’s crypto ambitions with a social media post mentioning a “Bitcoin Reserve.” This public signal came shortly after a private meeting with Max Keiser and Stacy Herbert, notable advisors on Bitcoin policy for El Salvador.
The timing of the mayor’s post, just days before he is scheduled to address a significant Bitcoin conference in Las Vegas, suggests that his administration may be aligning itself with a pro-BTC stance similar to that adopted by El Salvador. While a national digital asset reserve has not been proposed, the concept of a Bitcoin reserve at the city level is gaining traction among cryptocurrency proponents.
Concrete Steps Towards Adoption
Panama City is laying the groundwork for broader digital asset acceptance. Local initiatives are expected to soon permit residents to pay taxes and municipal fees using Bitcoin, Ethereum, and leading stablecoins such as USDT and USDC. This functionality awaits the full implementation of necessary conversion systems.
Beyond payments, energy and education are integral to the city’s evolving digital vision. Officials have discussed leveraging Panama’s hydroelectric infrastructure for sustainable cryptocurrency mining operations. Concurrently, the city plans to introduce financial education resources from El Salvador, like the educational material “What is Money?”, into its public library system.
Although the national government has not yet enacted official crypto policies, significant momentum is evident at the municipal level. With Mayor Mizrachi’s upcoming address drawing international interest, Panama City could soon establish itself as a notable contender in the cryptocurrency transformation sweeping across Latin America.
Maxwell Reed is the first editor of Cryptovista360. He loves technology and finance, which led him to crypto. With a background in computer science and journalism, he simplifies digital currency complexities with storytelling and humor. Maxwell began following crypto early, staying updated with blockchain trends. He enjoys coffee, exploring tech, and discussing finance’s future. His motto: “Stay curious and keep learning.” Enjoy the journey with us!