Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Detroit to accept crypto for taxes by mid-2025

Detroit to accept crypto for taxes by mid-2025

GrafaGrafa2024/11/09 00:37
By:Liezl Gambe

Detroit will allow residents to pay taxes and city fees with cryptocurrency starting mid-2025 as part of a move to modernise its payment systems and attract blockchain businesses.

The announcement, made by Detroit’s Office of Treasury on November 7, highlighted that the crypto payment option will be facilitated through a secure platform managed by PayPal.

While specific cryptocurrencies have not been confirmed, PayPal currently supports Bitcoin (CRYPTO:BTC), Ether (CRYPTO:ETH), Bitcoin Cash (CRYPTO:BCH), Litecoin (CRYPTO:LTC) and its own stablecoin, PayPal USD (CRYPTO:PUSD).

“Detroit is building a technology-friendly environment that empowers residents and entrepreneurs. We are excited to be one of the first major US cities to explore blockchain’s civic applications and allow residents to use their cryptocurrency as a payment option,” Mayor Mike Duggan expressed, showing enthusiasm for the initiative.

The city also invited blockchain entrepreneurs to propose innovative civic applications.

Proposals can be submitted to Justin Onwenu, Detroit’s director of entrepreneurship and economic opportunity, with a submission deadline set for December 15.

“Blockchain technologies have the potential to drive greater accessibility, efficiency, transparency, and security, and we’re excited to hear from entrepreneurs at the forefront of this work,” Onwenu emphasised.

Detroit will join other U.S. cities, such as Miami Lakes, Florida, and Williston, South Dakota, that accept crypto for taxes and city services.

States like Colorado and Louisiana also accept crypto payments for certain services, typically partnering with vendors such as PayPal or BitPay to manage transactions.

The announcement follows the election of Donald Trump as President, with the crypto industry expecting pro-crypto policies and clearer regulations under his administration.

The potential changes include replacing SEC Chair Gary Gensler and considering a national strategic Bitcoin reserve.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

WLFIUSDT now launched for pre-market futures trading

Bitget Announcement2025/08/23 13:50

New spot margin trading pair — SAPIEN/USDT!

Bitget Announcement2025/08/22 10:56

Bitget Will Delist MKR on 2025-08-22

Bitget Announcement2025/08/22 10:15