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Detroit Set to Accept Crypto Tax Payments

The Michigan city is the largest in the U.S. to support crypto payments for paying city fees and taxes.
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Nov 8, 2024 • 1 min read

Crypto's regulatory support is growing. Detroit is set to become the largest U.S. city to accept cryptocurrency payments for taxes and other payments, following an announcement from the city's mayor.

What's the Scoop?

  • Crypto Payments: On Thursday, city officials revealed that Detroit residents will be able to pay taxes and other city fees with cryptocurrency through a platform managed by PayPal.
  • Implementation Timeline: This new payment option is expected to be available by mid-2025.

Bankless Take:

Detroit is now the third city in the U.S., joining Williston, North Dakota, and Miami Lakes, Florida, to accept crypto-based payments. Other major cities, like Miami and New York City, are exploring similar initiatives. Beyond crypto payments, Detroit is also welcoming entrepreneurs to propose blockchain-based civic applications. This move marks yet another promising step toward establishing the U.S. as a powerhouse in the crypto space.

Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.

Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here.

Published in Bankless

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