The city of Detroit is set to allow residents to pay taxes and other fees with Cryptocurrency, a move that is part of efforts to 'modernize' and attract blockchain companies to the city, according to a statement from the Detroit Treasury Office.
In a statement on November 7, the Detroit Treasury announced that new Cryptocurrency payment options will be provided through a 'secure payment platform managed by PayPal' starting in mid-2025.
The announcement did not clarify which Cryptocurrency Detroit will accept as a payment method, but currently, PayPal supports a small number of major crypto assets, including Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH), Litecoin (LTC), and their own stablecoin, PayPal USD (PYUSD).
Detroit will allow residents to pay taxes with Cryptocurrency starting in mid-2025. Source: Detroit Treasury Office
Detroit announced that the move to accept Cryptocurrency is part of a broader effort to 'modernize' the city's payment channels, improve internal operational efficiency, and encourage blockchain companies to establish their headquarters in the city.
"Detroit is building a technology-friendly environment that facilitates residents and entrepreneurs. We are excited to be one of the first major cities in the U.S. to explore the application of blockchain in civic engagement and allow residents to use Cryptocurrency as a payment option," said Mike Duggan, Mayor of Detroit.
Along with announcing new Cryptocurrency payment options, Detroit also stated that they are inviting entrepreneurs and innovators in the blockchain space to 'propose blockchain application ideas for the community' to meet with the city's Director of Startups and Economic Opportunity, Justin Onwenu.
Candidates wishing to propose blockchain ideas for the city of Detroit will have a deadline of December 15 to submit their ideas via email.
"Blockchain technology has the potential to enhance accessibility, efficiency, transparency, and security, and we look forward to hearing from entrepreneurs leading the way in this work," Onwenu shared.
As Detroit begins to accept Cryptocurrency, the city will join a growing list of U.S. cities and states also accepting Cryptocurrency for tax payments and city services, such as Miami Lakes in Florida and Williston in South Dakota.
Colorado and Louisiana also accept Cryptocurrency to some extent for public services and often collaborate with a third-party payment provider such as PayPal or BitPay to implement this.
Detroit's new initiative comes three days after Donald Trump, who is friendly to Cryptocurrency, was elected president.
The Cryptocurrency industry is currently expecting a range of Cryptocurrency-friendly policies and regulatory clarity to be introduced under the Trump administration, including the firing of current SEC Chairman Gary Gensler and the potential establishment of a national strategic reserve for Bitcoin.
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