Detroit Embraces Crypto for Tax Payments
Detroit is gearing up to become the largest U.S. city to accept cryptocurrencies for tax and city fee payments.
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Detroit is gearing up to become the largest U.S. city to accept cryptocurrencies for tax and city fee payments.
City leaders have announced that from mid-2025, residents will be able to settle their dues using digital currencies via a platform integrated with PayPal.
Detroit leads in adopting widespread crypto use. Source: Detroit official website.
With this initiative, Detroit rises as a standout leader in technological innovation among the largest U.S. cities, facilitating smoother day-to-day activities.
The metropolis has a well-rounded approach to adopting digital technologies to boost public services and attract blockchain-centric businesses.
Detroit’s mayor, Mike Duggan, reaffirmed the city's commitment to creating a technology-embracing environment:
We are excited to be one of the first major U.S. cities to explore blockchain’s civic applications and allow residents to use their cryptocurrency as a payment option.
This initiative is set to roll out with updates to Detroit’s existing payment systems.
Detroit Treasurer Nikhil Patel emphasized the push for modernization:
This new payment platform will increase accessibility for Detroiters who would like to use cryptocurrency. It will also streamline electronic payments, particularly benefiting residents who are unbanked.
The scope of Detroit’s plan goes beyond expanding payment options. The city is inviting startups to submit applications that aim to improve transparency, data protection, and the effectiveness of public services.
Entrepreneurs are urged to submit their project ideas to Justin Onwenu, Detroit's Director of Entrepreneurship, by December 15, 2024. The city is particularly interested in blockchain-centric innovations that can upgrade public services and foster civic involvement.
To date, only a few states in the U.S., including Colorado, Utah, and Louisiana, accept cryptocurrency for local payments.
Read on: Chainalysis Report: Global Cryptocurrency Adoption in 2024
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