Detroit Becomes First Major American City To Pioneer Crypto Payments for City Services [Yahoo! Finance]
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Source: Yahoo! Finance
The groundbreaking move was announced by city officials on Thursday, allowing residents to start paying taxes and city fees with cryptocurrency through PayPal's secure payment platform starting in mid-2025. “Detroit is building a technology-friendly environment that empowers residents and entrepreneurs,” said Mayor Mike Duggan. The mayor added they are excited to be among the first big American cities to explore blockchain technology's potential and to provide residents with a convenient additional way to make payments by offering cryptocurrency as an option. The effort goes far beyond convenience in terms of simply paying a bill, as it also forms part of a broad initiative to upgrade city services and further financial inclusion. This makes Detroit, with its 630,000 residents, the leader of the pack in terms of city cryptocurrency adoption. While three states in the country allow cryptocurrency in state payments—Colorado, Utah, and Louisiana—today few cities other than Williston,
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News
- Detroit Embraces Crypto For Tax Payments: Risks And Potential [Forbes]Forbes
- Is PayPal Holdings, Inc. (PYPL) The Best Stock Under $100 To Invest In? [Yahoo! Finance]Yahoo! Finance
- Detroiters Will Be Able to Pay Their Taxes in Crypto Next Year Using PayPal [Yahoo! Finance]Yahoo! Finance
- Detroit to become largest city in U.S. to accept cryptocurrency for taxes [CBS News]CBS News
- Is PayPal Holdings Inc. (PYPL) a Good Stock to Buy Now According to Redditors? [Yahoo! Finance]Yahoo! Finance
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Earnings
- 10/29/24 - Beat
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Sec Filings
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- 10/29/24 - Form 8-K
- 10/15/24 - Form 4
- PYPL's page on the SEC website