The largest encryption city in the United States! Detroit allows citizens to pay taxes in cryptocurrency, officially launching in the middle of next year.

Detroit opens up to cryptocurrency payments

On November 7, the Detroit City Council announced that it will launch a service in mid-2025 to pay municipal fees and taxes with Cryptocurrency, becoming the largest city in the United States to allow payment of public fees with Cryptocurrency. The city will utilize PayPal to provide a secure payment platform for Cryptocurrency transactions, allowing residents to use a few types of coins such as BTC, Ethercoin, BTC cash, Litecoin, and PayPal's own Stable Coin (PayPal USD) for payments. This move signifies Detroit's breakthrough in the technology industry and demonstrates its open attitude towards blockchain technology, aiming to attract more related industries to settle in the city and further drive economic growth.

Promote technological development, strengthen citizen participation

Detroit Mayor Mike Duggan said in a press release, 'Detroit is committed to creating a friendly tech environment that empowers citizens and entrepreneurs.'

He emphasized that this move is not only a convenience measure, but also an important step in exploring the application of blockchain technology in municipal services. The city government representative pointed out that the cryptocurrency payment plan is one of the strategies to promote modernization and enhance citizen participation. In the future, the payment system, especially for residents without a bank account, will continue to be optimized to enhance payment convenience.

Image source: Reddit Detroit Mayor Mike Duggan

In this project, Detroit not only offers Cryptocurrency payment options, but also plans to invite Block chain entrepreneurs to submit innovative proposals to improve the transparency, security and efficiency of municipal services. Justin Onwenu, the city's new director of entrepreneurship and economic opportunities, urged entrepreneurs to come up with specific ideas and participate in the technological transformation plan of Detroit. Entrepreneurs can submit their ideas before December 15, 2024, and the city will provide support for excellent Block chain application solutions to promote digitalization of public services.

Detroit joins the ranks of a few cities in the United States that accept encryption payments.

Although Detroit is currently the largest city in the United States to accept Cryptocurrency payments, several cities and state governments have already opened Cryptocurrency payment options for specific services. For example, Williston in South Dakota and Miami Lakes in Florida have allowed citizens to pay utility bills or specific taxes with Cryptocurrency; in addition, states such as Colorado, Utah, and Louisiana have also opened encryption payment options for some municipal fees and are partnering with third-party payment platforms such as PayPal or BitPay to ensure that the city can receive payments in USD and mitigate the risk of Cryptocurrency Fluctuation.

In several cities across the United States, the gradual opening of encryption payments is particularly noteworthy. Detroit's initiative stands out because it will surpass the scale of other cities to become the largest municipal service provider for encryption payments in the United States, which is of significant benefit to the city's tech image and economic attractiveness.

Attracting entrepreneurs to settle in and promoting the landing of Block chain applications

The embrace of Block and encryption technology by the Detroit City Government aims to become a hot spot for tech startups and lead the digital transformation of public services. The city government stated that this initiative can not only improve payment convenience and efficiency but also attract more Block entrepreneurs to settle, thereby promoting the diversified development of the city's economy.

Owen Wen pointed out, "Blockchain technology has the potential to enhance transparency, efficiency, and security. We look forward to contributions of new thinking from leading entrepreneurs."

The introduction of this Crypto Assets tax policy also demonstrates a high level of innovation in Detroit, which may become a model for other cities in the future. With the increasing demand for digital payments globally, Detroit hopes to further promote the modernization of municipal operations and explore new pathways for economic development through the establishment of encryption payment systems.