After the massive surge in bitcoin and other cryptocurrencies that followed Donald Trump's election win, more good news for those with a crypto wallet: Detroit says residents will have the option to pay taxes and other city fees in cryptocurrency starting next year, CBS News reports. In a news release, the city said it will become the largest city in the US to accept cryptocurrency payments when the option becomes available in mid-2025. The plan "not only makes it easier for Detroit residents to transact with the City but also marks Detroit's commitment to welcoming blockchain and technology entrepreneurs who want to make a difference in the city," the city said.
"Detroit is building a technology-friendly environment that empowers residents and entrepreneurs," said Mayor Mike Duggan. City treasurer Nikhil Patel said the change is part of a wide upgrade of city payment services, reports the Detroit News. The "platform upgrade will also make it easier for Detroiters to make electronic payments—including those who may be unbanked," Patel said. According to the city, only three states—Colorado, Louisiana, and Utah—currently accept cryptocurrency as payment for taxes or state services. (More cryptocurrency stories.)
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