Panama City Mayor Proposes Bitcoin Payments for Priority Panama Canal Access

Panama City Mayor Mayer Mizrachi has proposed allowing ships to pay Bitcoin for faster passage through the Panama Canal, suggesting that Bitcoin payments could grant priority access and reduce wait times. This proposal aligns with Panama City's recent adoption of cryptocurrency payments for municipal services such as taxes and fines, using a system that converts crypto payments instantly to U.S. dollars for government institutions. Mizrachi envisions establishing a municipal Bitcoin reserve, inspired by El Salvador’s national Bitcoin legal tender policy, and advocates for minimal regulatory interference to foster crypto innovation. The Panama Canal is a critical global trade route, handling about 5% of worldwide maritime commerce and generating roughly $5 billion in annual revenue. While the Panama Canal Authority has not yet officially responded to the Bitcoin payment idea, the initiative reflects Panama City’s broader efforts to integrate digital assets into its economy, potentially creating new incentives for crypto use in global commerce. Mizrachi’s proposals were highlighted during the Bitcoin 2025 conference and demonstrate a growing interest in leveraging digital currencies for public and commercial applications.