Detroit becomes first city to fully adopt crypto payments for taxes, fees

Detroit becomes first city to fully adopt crypto payments for taxes, fees
фото показано с : cryptoslate.com

2024-11-8 02:23

Detroit is setting a national precedent by becoming the largest US city to accept crypto for taxes and city fees.

City officials announced on Nov. 7 that residents will be able to pay these expenses with crypto starting in mid-2025 through a secure platform operated by PayPal.

The move is part of Detroit’s broader vision to establish itself as a hub for digital innovation and inclusive public services. By enabling crypto payments, the city aims to streamline transactions for residents and open doors for unbanked or underbanked communities who may face barriers in traditional banking.

Mayor Mike Duggan said:

“Detroit is building a technology-friendly environment that empowers residents and entrepreneurs. We are excited to be one of the first major US cities to explore blockchain’s civic applications and allow residents to use cryptocurrency as a payment option.”

This initiative comes as other cities and states experiment with crypto payments. However, Detroit’s move to enable them for a wider array of city services sets it apart, positioning it as a trailblazer among larger municipalities.

Financial accessibility

Detroit’s Treasurer, Nikhil Patel, emphasized the importance of accessible services and modernized payment options.

He said:

“The Treasurer’s Office is committed to modernizing our payments channels to enhance the customer experience and improve internal operational efficiency. This platform will increase accessibility for Detroiters who want to use cryptocurrency and also simplify electronic payments for all residents, including those who may be unbanked.”

According to recent data, roughly 4.5% of US households lack access to traditional banking. By offering crypto as a payment option, Detroit hopes to reach these residents and provide a smoother transaction process.

Invitation for innovation

Detroit is also opening its doors to blockchain entrepreneurs who can help improve city services. Entrepreneurs are encouraged to submit proposals by Dec. 15, outlining solutions that leverage blockchain’s potential for transparency, security, and efficiency in public services.

Detroit’s Director of Entrepreneurship and Economic Opportunity, Justin Onwenu, said:

“Blockchain technologies have the potential to drive greater accessibility, efficiency, transparency, and security, and we’re excited to hear from entrepreneurs at the forefront of this work.”

Detroit’s embrace of crypto and blockchain is part of a broader strategy to position itself as a hub for technology and innovation, paving the way for other major cities to follow.

The post Detroit becomes first city to fully adopt crypto payments for taxes, fees appeared first on CryptoSlate.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Swarm City (SWT) на Currencies.ru

$ 0.0273215 (+0.52%)
Объем 24H $0
Изменеия 24h: 1.01 %, 7d: 3.66 %
Cегодня L: $0.027122 - H: $0.0273215
Капитализация $0 Rank 8631
Доступно / Всего 0 SWT

city crypto detroit taxes fees pay these

city crypto → Результатов: 126


Crypto.com стала спонсором женского футбольного клуба Angel City

Криптовалютная биржа Crypto.com подписала четырехлетнее соглашение о предоставлении спонсорской помощи профессиональной женской футбольной команде Angel City FC (ACFC).

2021-12-22 12:00


Consortium Project Involving IOTA Wins EU Commission Approval to Roll Out Smart Tech in Several European Cities

Internet-of-Things crypto platform IOTA has just announced that the EU Commission has given the green light to a smart city initiative, which will have IOTA involved. The smart city consortium called +CityxChange is a project to be hosted and led by the Norwegian University of Science and Technology (NTNU) and to be funded by the […] Consortium Project Involving IOTA Wins EU Commission Approval to Roll Out Smart Tech in Several European Cities was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

2018-7-10 17:19


Blockchain World Conference to Host World’s First Crypto Poker Tournament

This year’s Blockchain World Conference (BWC) will be closing with the first-ever, casino sanctioned, all crypto poker tournament, according to an announcement released today. Taking place in Atlantic City, New Jersey, between the 11th-13th July, Blockchain World Conference is an event where blockchain and cryptocurrency experts can meet and discuss the most up-to-date and current information […] The post Blockchain World Conference to Host World’s First Crypto Poker Tournament appeared first on Coinjournal.

2018-7-12 15:58


Canadian Crypto Owners Love It For The Technology, Not The Speculation

An official survey by the Ontario Securities Commission (OSC) has confirmed Canada’s technology city has a deep interest in the technology behind cryptocurrency, than its financial outcomes. The financial trading regulatory body in Ontario had asked over 2500 Ontarians to provide input on their interpretation of the popular virtual currencies such as bitcoin.

2018-7-5 21:36


UK Finance Regulator FCA Approves Crypto & Blockchain Companies for 4th Cohort of Sandbox

Financial Conduct Authority Approves Crypto Companies for 4th Cohort of Regulatory Sandbox One of the most important regulatory agencies in the country, the Financial Conduct Authority (FCA), unveiled on July the 3rd, all the firms that were successfully approved to begin testing the fourth cohort of the sandbox. The City regulator named some cryptocurrency and […]

2018-7-5 00:22


Some potential investors find the process of acquiring cryptocurrencies rather complicated, according to a new survey conducted among US residents. Despite that finding, and other obstacles, another study confirms the recently reported increase

Despite that finding, and other obstacles, another study confirms the recently reported increase in capital raised through coin offerings this year. Also in today’s Bitcoin in Brief, the Swiss city of Zug concludes successfully its experimental vote on blockchain.

2018-7-4 18:46


Фото:

Amsterdam Airport Passenger Transfer uses LeTower Euros for Crypto

Schiphol – the international airport serving the Netherlands’ capital city, Amsterdam – is launching an ATM that will allow travelers to exchange their euros for bitcoin or ethereum. The airport explained in an announcement on Wednesday that the machine is being located in the departures terminal, since it will offer travelers an option to convert

2018-6-21 16:24


Фото:

Рэпер Akon запустит собственную криптовалюту

Американский рэпер и певец Akon объявил о создании собственной виртуальной валюты для использования ее в своем новом африканском крипто-городе — Akon Crypto City. По словам певца, его виртуальная валюта будет доступна через две недели для применения на 2000 акрах земли, недавно предоставленных ему президентом Сенегала.

2018-6-21 12:45


Фото:

Певец Эйкон запускает свою цифровую валюту  

Исполнитель песен и музыкальный продюсер Эйкон в ходе международного фестиваля творчества «Каннские львы» анонсировал запуск собственной криптовалюты Akoin. Об этом сообщает ForkLog со ссылкой на Page Six.

2018-6-21 11:26


Рэпер Akon выпускает собственную криптовалюту

Рэпер и музыкальный продюсер Akon намерен выпустить собственную криптовалюту под названием Akoin. Об этом он заявил в ходе международного фестиваля творчества «Каннские львы». Криптовалюта будет являться внутренней валютой собственного государства Эйкона под названием Akon Crypto City, которое находится в Сенегале и занимает 2000 акров.

2018-6-21 09:17


Фото:

Akon Launches Akoin to Be ‘Savior of Africa’

US singer-songwriter Akon has become the latest celebrity to launch a cryptocurrency — as he proclaims his belief the underlying technology “could be the savior of Africa. ” Akoin ‘Will Be Center Of Transactional Life’ Originally reported by Page Six, Akon — who is originally from Senegal — revealed at this year’s Cannes Lions International Festival of Creativity that he wants to use Akoin as part of a giant 2000-acre development called Akon Crypto City.

2018-6-21 07:00


Певец Эйкон анонсировал запуск цифровой валюты для собственного «криптогорода»

Исполнитель песен и музыкальный продюсер Эйкон в ходе международного фестиваля творчества «Каннские львы» анонсировал запуск собственной криптовалюты Akoin. Об этом сообщает Page Six. По словам автора хита «Smack That», эта цифровая валюта будет использоваться в его «собственном криптогороде» Akon Crypto City.

2018-6-20 21:02


Фото:

Bitcoin in Brief Wednesday: Zug Tests Blockchain to Decide on Fireworks and Digital IDs

The city of Zug, home of the Swiss Crypto Valley, will invite its residents to take part in an experimental blockchain-based vote. They are expected to share opinions on several questions of local importance, including the fireworks display during the annual Lakeside Festival and the use of digital IDs to borrow books and pay parking […] The post Bitcoin in Brief Wednesday: Zug Tests Blockchain to Decide on Fireworks and Digital IDs appeared first on Bitcoin News.

2018-6-13 15:12


Фото:

Jason Attar Takes Cryptocurrency to the Big Screen in New Mockumentary

Award-winning comedian, actor, writer and director Jason Attar is once again heading for the big screen with his new project KevCoin: The Movie. A follow-up to his previous film One Night in Powder, Attar will don the guise of his infamous character Kevin Powder — a rock star “fixer” who’s constantly trying to reinvent himself through wild schemes — and take on the world of digital finance as he seeks out fame and riches.

2018-6-11 22:31