Mayor Mizrachi, Mayor of Panama City, has advised the idea of transferring ships to pay in bitcoin to rapidly pass the Panama Canal.
Mizrachi Proposed During a panel discussion at the Bitcoin 2025 conference in Las Vegas on 29 May, the cargo ship can cut the line waiting for its passage through the key shipping channel by paying in bitcoin (BTC,
“We have a canal – what if you get a perk to pay in bitcoin, then get your ship to go quickly. If you pay in bitcoin,” Mizrachi suggested two El Salvador bitcoin policy leaders, talking with Max Keyser and Stacey Herbert. Mike Peter son, a director of Bitcoin Beach in Al Salvador, operated the panel.
The Panama Canal is a man -made waterway that connects the Caribbean and Pacific Oceans, allowing cargo ships to save the weeks of travel rather than going around South America. It plays an important role in global trade, about 5% of global maritime commerce passes through it every year.
Ship pays for transit through canal, Panama earned about 5 billion dollars from the canal in its final full financial year between October 2023 and September 2024, According For Panama Canal website.
Around 10,000 ships moved through the canal during the time limit, transporting goods of 423 million tonnes.
The Panama Canal became a controversial subject in December 2024 as Trump announced plans for the US to regain the control of the canal, citing concerns over the Chinese influence and claimed that inappropriate tolls are imposed on American ships.
Panama City has recently been on the front leg with bitcoin adoption, recently approved a measure allowing use. Crypto for public payment, Tax, penalty and municipal duty.
Bitcoin payment for the Panama Canal is one of the many ideas that Mizrachi has picked in recent weeks because he investigates how his country can follow Al Salvador led To adopt bitcoin.
They have also postponed the idea of installing one Bitcoin reserve for Panama City – Half of half of the Global Domestic Product of Panama – Panel indicating in the discussion that they would not require legislative approval to adopt such measures.
Mizrachi wants Panama to take MPs back to the back
Mizrachi urged the Panama MLAs to stop the work on bills to regulate crypto, instead emphasize the hands-off approach for regulation.
“Don’t touch it, don’t go near it, don’t even look at it, let it operate, let it work,” said Mizrachi.
“Then decide what it needs. Do you want to ban it or you want to promote it?”
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Mizrachi claims that worth more than $ 5 billion Bitcoin transaction Panama is held every year, but said that a lot of adoption is behind the closed doors, because many are afraid to embrace bitcoins.
Mizrachi’s comments come when Panama declared an emergency situation in the Bokas del Toro province after the banana company, which was closed to more than 5,000 workers, who were protesting for the stronger Social security measures.
Chikita claims that it caused a loss of more than $ 75 million as a result of attacks and obstacles affecting business operations.
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