Detroit Municipal officials announced that city residents will be able to pay their taxes with cryptocurrency starting from mid-2025. The move makes Detroit the largest US city to accept crypto payments for utilities.
Cryptocurrency Tax Payments
According to the municipality, transactions will be processed through a secure platform provided by PayPal. The service is planned to begin in mid-2025. Detroit officials stated that this application is in line with the city’s strategy to explore innovative technologies.
In addition to the new payment system, Detroit is inviting blockchain entrepreneurs to deliver unique public solutions for the city. Startups are asked to submit proposals to Detroit’s Director of Economic Opportunity Justin Onwenu by December 15, 2024.
“We are excited to explore applications of blockchain in public services and enable our residents to use cryptocurrency as a payment option.” -Detroit Mayor Mike Duggan
Detroit’s Technology-Focused Vision
Detroit aims to empower citizens and entrepreneurs by creating a technology-friendly environment. This step has the potential to improve public services, strengthen civic engagement and stimulate economic growth.
While only the states of Colorado, Utah and Louisiana currently accept public payments in cryptocurrency, Detroit’s initiative makes it one of the first among major US cities. This development puts Detroit on track to become a hub for blockchain-powered economic development and public services innovation.
Companies like OrbitLabs are also testing tax payments on blockchain.
In summary, Detroit’s decision to accept tax payments in crypto demonstrates the city’s commitment to innovative technologies and the importance it places on digital economic development. This step could serve as a model for other cities and contribute to wider acceptance of cryptocurrencies in public services.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
