- Detroit, Michigan will allow residents to pay taxes and city fees using cryptocurrency starting mid-2025.
- The payment option will be facilitated through a secure platform managed by PayPal.
- This initiative will make Detroit the largest U.S. city to accept cryptocurrency for tax payments.
- Treasurer Nikhil Patel emphasized that the platform will enhance accessibility for residents, including those who are unbanked.
- Cryptocurrency has seen limited adoption for tax payments in the U.S.; Ohio attempted a similar initiative in 2018 but it did not succeed.
Source: salestaxinstitute.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
