Detroit residents will soon be able to pay their taxes and other city fees with cryptocurrency as part of the city\u2019s drive to modernize and attract blockchain businesses.<\/p>\n
According to the local Office of Treasury, when it launches in mid-2025, this new payment option will make Detroit the largest U.S. city to accept cryptocurrency payments.<\/p>\n
In a November 7 release<\/a>, city officials said the new crypto options would be offered through a secure payment platform managed by PayPal. However, the announcement did not specify which cryptocurrencies the city would accept as payment.<\/p>\n Detroit\u2019s new crypto transaction option is part of a broader effort to integrate technology that improves city services, boosts civic engagement, and drives economic growth.<\/p>\n \u201cDetroit is building a technology-friendly environment that empowers residents and entrepreneurs,\u201d said Mayor Mike Duggan. He added that they were enthusiastic about being among the first major U.S. cities to explore blockchain technology\u2019s civic uses and provide residents with the option to pay with cryptocurrency.<\/p>\n Treasurer Nikhil Patel noted that the new system, set to launch in mid-2025, will be accompanied by other improvements to city payment channels. The upgrades aim to improve accessibility for residents, particularly those who prefer using cryptocurrency or lack traditional banking options. The platform also aims to improve the customer experience and boost internal operational efficiency.<\/p>\n The city has also announced an open call for blockchain entrepreneurs to present their ideas for civic applications of blockchain technology.\u00a0Justin Onwenu, Detroit\u2019s Director of Entrepreneurship and Economic Opportunity, will oversee the initiative. Entrepreneurs interested in submitting proposals have until December 15 to email their ideas to the city.<\/p>\n \u201cBlockchain technologies have the potential to drive greater accessibility, efficiency, transparency, and security, and we\u2019re excited to hear from entrepreneurs at the forefront of this work,\u201d said Onwenu.<\/p>\n Detroit\u2019s new initiative aligns the city with a growing number of U.S. cities and states that accept cryptocurrency for payments. Colorado became <\/a>the first state to accept cryptocurrency for tax payments in 2022, with Utah and Louisiana following suit.<\/p>\n Cities like Williston, North Dakota, and Miami Lakes, Florida<\/a>, also allow residents to pay certain city fees with cryptocurrency, with many partnering with companies like BitPay and PayPal for secure transactions.<\/p>\n The development also follows the recent election<\/a> of crypto-friendly Donald Trump as U.S. President, which has potentially positive implications for the industry. During his election campaign, the newly elected president consistently supported cryptocurrency and promised <\/a>to foster the sector\u2019s growth.<\/p>\n The post Detroit to Introduce Cryptocurrency as Payment Option for Taxes and Fees<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Detroit residents will soon be able to pay their taxes and other city fees with cryptocurrency as part of the city\u2019s drive to modernize and attract blockchain businesses. According to the local Office of Treasury, when it launches in mid-2025, this new payment option will make Detroit the largest U.S. city to accept cryptocurrency payments. […]<\/p>\n","protected":false},"author":0,"featured_media":19101,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-19100","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/19100"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=19100"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/19100\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/19101"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=19100"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=19100"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=19100"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Open Call for Blockchain Innovators<\/h2>\n