30s Summary
Detroit’s Treasury Office plans to accept cryptocurrency for city taxes and fees from mid-2025 via a secure PayPal platform. The new scheme is expected to make Detroit more attractive to blockchain businesses and increase efficiency. The city also invited blockchain innovators to pitch their ideas to foster entrepreneurship and economic opportunity. The move follows examples of other US crypto-friendly areas, such as Miami Lakes in Florida and Willston in South Dakota, adding to the anticipation that new pro-crypto policies could be introduced following Donald Trump’s White House move.
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Hey Detroit dwellers! Soon you’ll be able to use your digital dough to pay your city taxes and fees. The city’s Treasury Office says it’s hoping this trendy tech move will make Detroit more enticing to blockchain businesses.
In a statement made on November 7, the Treasury let everyone know that from mid-2025, there will be a secure payment platform run by PayPal for anyone wanting to pay in crypto.
They didn’t go into details about what kinda digital currencies they’ll be accepting, but we know PayPal’s platform currently caters for big hitters like Bitcoin, Ether, Bitcoin Cash, Litecoin and their very own PayPal USD.
Detroit views this step towards accepting digital currencies as a way to update and streamline its payment methods and boost how efficiently it operates. The city also reckons it’s a good way to get blockchain businesses to set up shop there.
“Detroit is working hard on being tech-friendly for everyone. We’re really excited about being one of the first big American cities to let our folks pay with crypto and to test out blockchain for public use,” commented Mayor Mike Duggan.
In other news, Detroit is welcoming blockchain whizzes and pioneers to offer up their innovative ideas to Justin Onwenu, the city’s head honcho of entrepreneurship and economic opportunity. The deadline for pitching these blockchain ideas is December 15.
Ultimately, Detroit aims to join other crypto-friendly areas in the US such as Miami Lakes in Florida and Willston in South Dakota. These places are already accepting digital currencies as payment for taxes and other city services. Other places like Colorado and Louisiana are also getting in on the crypto craze and turning to third-party vendors like PayPal or BitPay to handle transactions.
This comes hot on the heels of tech-friendly Donald Trump moving into the White House. It looks like we might start seeing a whole load of pro-crypto policies and greater clarity on regulations coming our way. These could even include kicking out current bigwig of the SEC, Gary Gensler, and potentially setting up a national Bitcoin reserve. Watch this space!