CryptoFinance & Economy

[NEWS] Detroit to accept cryptocurrency tax payments from 2025

2024/11/08 15:56 (Updated 2025/02/12 12:50)
Editors of Iolite
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[NEWS] Detroit to accept cryptocurrency tax payments from 2025

Part of the strategy for economic growth, etc.

On the 7th, the city of Detroit, Michigan, announced that it will accept cryptocurrency (virtual currency) payments for tax and utility bill payments through a platform managed by PayPal.

The city of Detroit said it has become the largest city in the United States to accept cryptocurrency payments.

According to the announcement, the support for cryptocurrency payments was made as part of the city's strategy to improve public services, strengthen citizen participation, and promote economic growth. In addition, by flexibly accepting cryptocurrency payments, the city has shown its welcoming attitude toward blockchain and technology entrepreneurs.

Mayor Mike Duggan commented, "The City of Detroit is building a technology-friendly environment that empowers residents and entrepreneurs," and continued, "We are pleased to be one of the major cities in the United States to explore blockchain civic applications and enable residents to use cryptocurrency as a payment option."

The city plans to accept cryptocurrency payments for tax payments and other purposes in mid-2025.

Nikhil Patel of the City of Detroit said, "This will increase convenience for citizens who want to use crypto assets as a means of payment," and added, "What's important is that it will make it easier for more people, including citizens who don't have bank accounts, to make electronic payments."

The City of Detroit also announced that it will be soliciting applications for city government applications that use blockchain. "We are interested in projects that use blockchain to increase transparency, improve data security, and streamline public services," the city explained. Applications will be accepted until the 15th of next month.

Will the use of cryptocurrencies increase with Trump's inauguration?

Former Republican President Donald Trump won the US presidential election on the 5th and is expected to be inaugurated as the next president. Trump has shown a positive attitude towards cryptocurrencies and is expected to work on clarifying regulations. Currently, cryptocurrencies can be used to pay state taxes in three US states: Colorado, Utah, and Louisiana. The city of Detroit has recently announced that it will support cryptocurrencies, but the movement to adopt cryptocurrencies remains slow. However, it is possible that Trump's actions will have an impact on each state in the future, and the use of cryptocurrencies will spread in light of the increased convenience.

Reference: Announcement
Image: Shutterstock

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Iolite Vol.14

July 2025 issueReleased on 2025/05/30
Interview Iolite FACE vol.14 Charles Hoskinson, founder and CEO of Cardano/Input Output Global PHOTO & INTERVIEW Mariko Mabuchi Special feature: "Considerations on cryptocurrency-related policies in Japan and the US", "Blockchain guide from Japan", "Huge position liquidation occurs at Hyperliquid! A new, unanticipated crisis in decentralized finance", "Sakana AI, a generative AI startup from Japan that is attracting a lot of attention", "Prepare for a recession: correlation between finance and anomalies" Crypto Journey: "Web 3.0 from the perspective of the 'King of Debate'" Interview with Hiroyuki Special series: Virtual Nishi: "Cryptocurrency market trends and key points for interpreting them" Series: Tech and Future Toshinao Sasaki, etc.