Panama Canal to offer priority to ships paying in Bitcoin
Panama Canal could offer priority to ships paying in bitcoin, says mayor
During the Bitcoin 2025 conference in Las Vegas, Mayor Mayor of Panama City Mayor Maier Mizrahi voiced an idea that resonated: ships passing through the Panama Canal could speed up their transit if they paid duties in bitcoin.
This comment was made in a semi-joking tone, but it raised an important question about the introduction of cryptocurrencies into international logistics, reports NewsBTC.
Mizrahi explained that such an initiative could reward the pioneers of digital assets and simplify transactions. However, the implementation of such a system would require approval from the Canal Authority and the central government.
Risks, rules, and fairness
Currently, transit through the canal is regulated on a first-come, first-served basis, and changing this principle could cause outrage among shipping companies. This is especially true for smaller carriers that may not be able to pay in bitcoin or withstand the volatility of the exchange rate.
The idea also touches on the sensitive topic of fair tariffs - back in December 2024, Donald Trump complained about “unfair fees” for American ships. To introduce bitcoin payment, the channel would have to create a system for instantly exchanging cryptocurrency into dollars or other stable assets.
Plans for cryptocurrency integration in the city
In addition to the channel idea, Mizrahi has proposed allowing city residents to pay local taxes, fines, and permits in bitcoin, ether, or USDC. He also advocates the creation of a municipal reserve in bitcoin, which he believes would strengthen the economic autonomy of the capital, which generates more than half of the country's GDP.
Despite his ambitious intentions, Mizrahi admits that further steps depend on national legislators. He estimates that more than $5 billion in bitcoin transactions take place annually in Panama, although most of them are unofficial.
Recently we wrote that Panama City Mayor Mayer Mizrachi has sparked speculation over a possible municipal Bitcoin reserve after posting the phrase “Bitcoin Reserve” to social media on May 16.
