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Detroit announces it will accept Bitcoin to pay city taxes and fees
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The city of Detroit took a historic step by announcing that it will allow the payment of municipal taxes and fees in Bitcoin and other cryptocurrencies.
This new payment system, scheduled to begin in mid-2025, will be processed by a secure platform, managed in partnership with PayPal. With this decision, Detroit will become the largest city in the United States to adopt the use of cryptocurrencies for public transactions .
Detroit Mayor Mike Duggan highlighted the city’s commitment to technological innovation. “Detroit is building a technology-friendly environment that empowers our residents and entrepreneurs,” said Duggan.
He emphasized that the initiative reflects the city’s willingness to explore civic applications for blockchain, offering new payment options that include cryptocurrencies, and providing greater convenience to citizens.
Bitcoin
Nikhil Patel, city treasurer, explained how the new system will benefit both cryptocurrency holders and traditional users. Patel highlighted that the modernization of payment channels seeks to improve the user experience and optimize the efficiency of internal operations.
He highlighted that this upgrade will especially benefit unbanked residents as it will offer more affordable electronic payment options. “Our team is committed to modernizing payment channels to expand financial inclusion and facilitate access to municipal services,” commented Patel.
Additionally, the city of Detroit has launched an open call for blockchain innovators to propose civic solutions. Director of Entrepreneurship and Economic Opportunity, Justin Onwenu, will lead this initiative, encouraging detailed proposals that present solutions, stakeholder analysis, cost projections and risk assessment. Proposals must be sent by December 15, 2024.
Detroit follows a growing trend of cryptocurrency adoption in government operations in the United States. Some smaller cities, such as Williston, North Dakota, and Miami Lakes, Florida, already accept cryptocurrencies for paying utility bills and city taxes.
However, large centers such as New York and Miami, despite interest in the crypto sector, have not yet implemented cryptocurrency payment systems for their services.
Detroit will allow residents to use Bitcoin and other cryptocurrencies to pay property taxes, city service fees, licenses and permits. Payments processed by PayPal will be immediately converted into US dollars, ensuring security and stability in transactions.
Detroit announces it will accept Bitcoin to pay city taxes and fees
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Detroit announces it will accept Bitcoin to pay city taxes and fees
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Detroit announces it will accept Bitcoin to pay city taxes and fees
