Mayer Mizrachi, the mayor of Panama City, Panama, announced today that the city government will accept payments in crypto. It will accept Bitcoin, Ethereum, and two stablecoins for taxes, permits, fees, etc.

However, Mizrachi clarified that the municipal government has a legal requirement to accept these funds only in USD. It will exchange cryptoassets for cash with a partnered bank, presenting a severe limit to potential crypto adoption.

Is Panama City Accepting Crypto?

In the last few months, a tide of pro-crypto regulation has swept over many of the world’s jurisdictions. This obviously includes the United States at the federal and state levels, but many other countries are rising to the occasion.

Case in point, the mayor of Panama’s capital city just announced that the municipal government will accept payments in crypto.

“Panama City council has just voted in favor of becoming the first public institution of government to accept payments in crypto. Citizens will now be able to pay taxes, fees, tickets and permits entirely in crypto starting with BTC, ETH, USDC, USDT,” claimed Mayer Mizrachi, the mayor of Panama City.

Mizrachi went on to explain some previous efforts to accept crypto payments in Panama. Four years ago, a legislative initiative tried to enable crypto payments all over the country.

It got some traction but eventually stalled out in 2022. In 2023, the Supreme Court ruled the bill “unenforceable.” Since then, it doesn’t seem like any other serious efforts have made progress.

Panama City’s municipal government is circumventing the legislature to accept crypto payments, but the strategy has significant drawbacks. Mizrachi explained that public institutions must receive funds in US dollars, and he couldn’t circumvent this requirement.

In other words, any crypto payments will actually go to a partnered bank. The bank will actually custody (or dispose of) these assets, while the city only holds USD. Mizrachi’s effort avoids a contentious legislative battle, but its actual impact might be severely limited.

Although Panama has its own currency, the balboa, the US dollar has more legal standing in a few different ways. It’s a legal tender; public institutions have to accept it, and the balboa is actually pegged to the dollar anyway.

This is a very similar situation to what made El Salvador accept Bitcoin as a currency, as it also had to use the US dollar as its sole currency.

Mizrachi explained that this short workaround will increase “the free flow of crypto” through Panama’s economy, but it may not be that simple. Depending on the agreement between the city government and partnered banks, it could just dump its cryptoassets on the international market.

If Panama wants to actually adopt cryptocurrency, it may need more sustainable measures integrated to the local economy.

The SEC and Ripple’s joint motion to pause legal proceedings on their cross-appeal has been approved. Both parties will have 60 more days to agree on how to amicably end their legal battle.

The Ripple case has been moving toward a final resolution for over a month, but procedural hurdles keep the legal battle open. For example, the Commission cannot sign any agreement before Paul Atkins officially takes his seat as Chair.

When Will Ripple and The SEC Reach an Agreement?

The Ripple vs SEC case was one of the largest enforcement actions of the Gensler era, and it’s been wrapping up for over a month now. The Commission signaled that it would drop the case and then fully committed shortly afterward.

One remaining cross-appeal still stands between them and a final agreement, but they both proposed to settle. That proposal has made progress:

“The parties’ joint motion to hold the appeal in abeyance has been granted. The SEC is directed to file a status report within 60 days of this Order,” claimed James Filan, an observing attorney with no direct connection to either party.

Specifically, Ripple and the SEC filed a joint request last week to pause all courtroom appearances related to the cross-appeal. The two parties were making solid progress with an agreement and wished to save time and legal fees.

The SEC also made a similar joint request with Binance, claiming that the two parties had “productive talks” toward a settlement. That request differed slightly from the joint motion filed by Ripple and the SEC, as the Binance filing mentioned broader policy implications.

Still, today’s development shows that things can progress much faster than the 60-day deadlines.

Unfortunately, there are still a few obstacles to a speedy resolution. President Trump nominated Paul Atkins to be the next SEC Chair, and he successfully passed his confirmation hearings. The formal swearing-in ceremony hasn’t actually happened, though.

It’s a formality that could happen at any time, but procedural issues can still hold up the process.

That is to say, Atkins will need to Chair the SEC to approve a settlement with Ripple. The crypto industry is used to a chaotic and fast-paced business environment, but legal proceedings can take a very long time.

Ideally, Atkins could sign a settlement agreement as soon as he takes office. For all we know, however, more minor delays could continue.

Pi Network (PI) is down nearly 10% in the last 24 hours, as multiple indicators point to growing bearish momentum. The DMI shows a clear shift from an uptrend to a downtrend, while CMF data confirms increasing outflows.

EMA lines are also warning of a potential death cross, which could trigger further losses. Here’s a breakdown of what the charts are signaling for PI in the near term.

Bearish Momentum Builds as PI Network’s DMI Flips to Downtrend

Pi Network’s (PI) DMI chart reveals a clear shift in momentum, with the ADX dropping from 43.68 to 39.17 over the past two days.

The ADX, or Average Directional Index, measures the strength of a trend, with values above 25 generally indicating a strong trend.

Although the current reading still suggests solid momentum, the recent decline in ADX combined with the trend reversal from uptrend to downtrend signals that bullish strength is fading and bearish pressure is taking control.

Supporting this shift, the +DI (Directional Indicator) has dropped sharply from 22.11 to 13.29, while the -DI has surged from 11.32 to 30.95.

The +DI represents bullish strength, and the -DI represents bearish strength—so this crossover and widening gap confirm that sellers are now in control. This setup typically points to continued downside, especially if the -DI remains dominant and the ADX stabilizes or rises again, signaling a strengthening bearish trend.

Unless there’s a sharp reversal in these indicators, PI could remain under pressure in the near term.

Selling Pressure Intensifies as Outflows Accelerate on PI Network

Pi Network’s Chaikin Money Flow (CMF) has dropped sharply to -0.13, down from 0.07 just a day ago. The CMF is a volume-based indicator that measures the flow of money in and out of an asset over a set period.

It ranges from -1 to +1, with positive values indicating buying pressure and negative values suggesting selling pressure.

A sudden shift from positive to negative typically signals a change in sentiment and potential weakness ahead.

With the CMF now at -0.13, it suggests that outflows are picking up and sellers are becoming more active.

This kind of drop often reflects reduced demand and a lack of confidence from buyers, especially if it comes alongside declining prices or weakening momentum indicators.

If the CMF remains in negative territory, it could point to sustained bearish pressure and a risk of further downside for PI unless strong inflows return soon.

Will PI Fall Below $0.50?

Pi Network’s EMA lines are signaling a potential death cross, where the short-term moving average crosses below the long-term moving average.

This is typically seen as a bearish sign, often preceding further downside. If confirmed, it could lead PI to retest the support level at $0.54.

A break below that level may open the door for a move under $0.50, especially if overall momentum continues to weaken, as analysts warn about Pi Network transparency after Mantra’s OM token collapse.

However, if the trend reverses and buyers step back in, PI price could regain strength and push toward the resistance at $0.66.

A breakout above that level would be an early sign of renewed bullish momentum.

If that move holds and gains traction, the next key target would be $0.789, which could be a major test of the strength of the recovery.