Detroit, Michigan to Accept Cryptocurrency for Payment of Taxes and Fees

In a news release, the City of Detroit announced that it will soon provide Detroit residents with the option to pay taxes and other city fees using cryptocurrency through a secure platform managed by PayPal. Per the news release, the cryptocurrency payment option will become available in mid-2025 along with additional improvements to city payment services. This development would make Detroit, Michigan the largest U.S. city to accept cryptocurrency payment for city taxes and fees.

Treasurer Nikhil Patel stated, “This new payment platform will increase accessibility for Detroiters who would like to use cryptocurrency; more importantly, the platform upgrade will also make it easier for Detroiters to make electronic payments – including those who may be unbanked.”

Largely, cryptocurrency has not been adopted as a form of payment for taxes across the United States. In 2018, the state of Ohio announced that it would accept cryptocurrency as tax payment, but the initiative did not make it off the ground. (Detroit to become largest city in US to accept cryptocurrency payments for taxes, other fees, City of Detroit website, November 7, 2024)

Posted on November 26, 2024