Panama Canal Goes Crypto: Mayor Pitches Bitcoin for Priority Passage

Panama City’s mayor just dropped a blockchain bombshell—proposing Bitcoin payments to skip the queue at one of the world’s busiest shipping lanes. Because nothing says ’efficient global trade’ like volatile crypto transactions during a supply chain crunch.

The move could turn the 50-mile waterway into a literal lightning network for maritime traffic—assuming traders are willing to stomach 20% price swings while their container ships inch through the locks.

Bonus jab: At least it’s not another ’Bitcoin Beach’ gimmick—this time, the orange coin might actually move something heavier than hype.

Panama revisits crypto stance

Panama’s national stance on crypto, on the other hand, has been more cautious but has softened over time. In May 2022, former President Laurentino Cortizo refused to sign a crypto bill passed by parliament, citing the need for stronger anti-money laundering measures.

At the time, critics warned that allowing unregulated crypto transactions could impact the country’s standing, as Panama, then on the FATF grey list, faced scrutiny over its history as a tax haven and the vulnerability of its dollarized economy to illicit finance.

Those concerns, however, have since given way to a more structured approach. In March 2025, Panama introduced a new draft bill aimed at regulating digital assets while aligning with international financial standards.

The bill proposes legal recognition of crypto as a payment option with mutual consent, enforces licensing for service providers, and mandates compliance with AML and KYC norms. It also encourages the use of blockchain in public services and recognises smart contracts as legally binding.