Panama Mayor: Bitcoin for Faster Canal Access Proposed
Fhumulani Lukoto
- 2 min read
Key Takeaways
Bitcoin Payments for Priority Transit:
Panama City Mayor Mayer Mizrachi proposed that cargo ships pay Bitcoin transit fees to gain faster access to the Panama Canal.
Part of Broader Crypto Integration:
The proposal aligns with Panama City’s ongoing efforts to embrace digital assets, including accepting crypto for municipal payments like taxes and fines.
Legal and Operational Hurdles Remain:
Implementing Bitcoin payments for canal access would require approval from the Panama Canal Authority and compliance with international treaties governing equal access.
At the Bitcoin 2025 conference in Las Vegas, Panama City Mayor Mayer Mizrachi proposed allowing ships transiting the Panama Canal to pay in Bitcoin (BTC) for expedited passage.
Overview
On May 29 2025, when speaking at a panel, Mizrachi suggested that cargo vessels could gain expedited passage through the vital trade route by making payments in BTC. He indicated that vessels opting for BTC payments could receive priority access, potentially reducing wait times through the canal.
The Panama Canal, a critical artery for global trade, handles approximately 5% of worldwide maritime commerce. In the fiscal year ending September 2024, it facilitated nearly 10,000 ship transits and generated around $5 billion in revenue. Mizrachi said, “We have a canal—what if you get a perk for paying in Bitcoin? You can get your ship to go quicker if you pay in Bitcoin.”
Expanding Bitcoin Integration in Public Services
Mayor Mizrachi’s proposal aligns with Panama City’s broader efforts to integrate crypto into public services. Earlier this year, the city approved a measure permitting residents to pay municipal taxes, fines, and fees using BTC, Ethereum (ETH), USDC, and Tether.
To comply with legal requirements, the city partnered with a bank that instantly converts crypto payments to US dollars, ensuring that public institutions receive fiat funds without directly handling digital assets. Additionally, Mizrachi has advocated establishing a municipal BTC reserve, inspired by El Salvador’s adoption of BTC as a legal tender. He emphasised that such initiatives could be implemented at the city level without requiring national legislative approval.
Potential Implications and Next Steps
While the proposal has garnered attention, it remains to be seen how the Panama Canal Authority will respond. The canal’s operations are governed by international treaties that mandate equal access for all nations, and any changes to payment structures would require careful legal consideration.
If implemented, accepting BTC for canal transit fees could position Panama as a pioneer in integrating crypto into global trade infrastructure. However, addressing regulatory challenges and ensuring compliance with existing international agreements would also necessitate addressing regulatory challenges.
As discussions continue, stakeholders must weigh the potential benefits of increased efficiency and innovation against the complexities of altering established maritime protocols.
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Fhumulani Lukoto
Cryptocurrency Journalist
Fhumulani Lukoto holds a Bachelors Degree in Journalism enabling her to become the writer she is today. Her passion for cryptocurrency and bitcoin started in 2021 when she began producing content in the space. A naturally inquisitive person, she dove head first into all things crypto to gain the huge wealth of knowledge she has today. Based out of Gauteng, South Africa, Fhumulani is a core member of the content team at Coin Insider.