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Detroit to Implement Cryptocurrency Payments for Taxes by 2025

Madonna by Madonna
11/08/2024
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Detroit has announced that by mid-2025, residents will be able to use cryptocurrency to pay for taxes and other city fees, as part of the city’s ongoing efforts to modernize its financial systems. The city will partner with PayPal to offer a secure platform for crypto transactions through the Detroit Office of Treasury.

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While the specific cryptocurrencies accepted have not yet been confirmed, PayPal’s platform currently supports popular coins including Bitcoin, Ether, Litecoin, Bitcoin Cash, and its own PayPal USD stablecoin.

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Mayor Mike Duggan expressed enthusiasm about the initiative, emphasizing the city’s commitment to fostering a tech-friendly environment for both residents and businesses. “Detroit is building a tech-friendly environment for residents and businesses,” he said, underlining the city’s growing focus on blockchain technology.

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Additionally, Detroit is calling on blockchain entrepreneurs to submit proposals for using blockchain in civic projects. Proposals must be submitted by December 15 to Justin Onwenu, the city’s director of entrepreneurship and economic opportunity.

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This move positions Detroit alongside other U.S. cities, including Miami Lakes, Florida, and Williston, South Dakota, that already accept crypto for civic services. Other states such as Colorado and Louisiana have similarly integrated cryptocurrency payment options through third-party services like PayPal and BitPay.

Detroit’s decision comes on the heels of growing national interest in cryptocurrency, especially following the election of President Donald Trump, a vocal supporter of crypto, who has fueled speculation about the potential for broader crypto-friendly policies and regulatory reforms.

Related topics:

Bitcoin Could Reach $100K Before Trump’s Inauguration, Experts Predict

France Moves to Ban Crypto Betting Platform Polymarket

Trump’s Victory Signals Urgency for India’s Crypto Regulation

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  • ZachXBT: The stolen funds from the crypto exchange BitoPro are suspected to have been leaked out and sold through DEX 06/03/2025
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