Michigan's Second Largest City Accepts Crypto to Pay Taxes
Detroit, the 14th largest and most populous city in the United States, has officially accepted crypto as a means of paying local taxes. The regulation will take effect starting in 2025.
“Detroit is building a tech-friendly environment that empowers residents and entrepreneurs. We are thrilled to be one of the first major cities in the U.S. to explore blockchain as a payment option,” said Detroit Mayor Mike Duggan.
The city will also welcome blockchain entrepreneurs and innovators who propose ideas for civic applications. Detroit officials say the project aims to harness blockchain's potential in administration, transparency and improving data security.