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Stockreport

Detroit Embraces Crypto For Tax Payments: Risks And Potential [Forbes]

PayPal Holdings, Inc. (PYPL)  More Company Research Source: Forbes
Last paypal holdings, inc. earnings: 1/29 04:15 pm Check Earnings Report
US:NASDAQ Investor Relations: investor.paypal-corp.com
Los Angeles Times via Getty Images Detroit has announced it will become the largest municipality in the US to allow residents to pay taxes using cryptocurrencies when it rolls out a new PayPal-managed payment platform in 2025. The initiative hopes to spur technological innovation and foster economic growth—but may come with risks. The city's leaders hope this strategy will modernize Detroit's municipal services and improve the city's financial inclusivity, particularly for unbanked residents. While Detroit's plans are forward-thinking, they may come with more risks than rewards. The initiative brings with it numerous potential downsides, ranging from environmental concerns to dependence on third-party platforms, and high transaction fees. Nonetheless, the Motor City's experiment with accepting alternative currency for tax payments may serve as a testing ground and, depending on results, may pave the way for similar moves on a national scale. Environmental Impact of Crypto Tra [Read more]
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Stockreport

Detroit Embraces Crypto For Tax Payments: Risks And Potential [Forbes]

PayPal Holdings, Inc.  (PYPL) 
More Company Research Source: Forbes
Last paypal holdings, inc. earnings: 1/29 04:15 pm Check Earnings Report
US:NASDAQ Investor Relations: investor.paypal-corp.com
Los Angeles Times via Getty Images Detroit has announced it will become the largest municipality in the US to allow residents to pay taxes using cryptocurrencies when it rolls out a new PayPal-managed payment platform in 2025. The initiative hopes to spur technological innovation and foster economic growth—but may come with risks. The city's leaders hope this strategy will modernize Detroit's municipal services and improve the city's financial inclusivity, particularly for unbanked residents. While Detroit's plans are forward-thinking, they may come with more risks than rewards. The initiative brings with it numerous potential downsides, ranging from environmental concerns to dependence on third-party platforms, and high transaction fees. Nonetheless, the Motor City's experiment with accepting alternative currency for tax payments may serve as a testing ground and, depending on results, may pave the way for similar moves on a national scale. Environmental Impact of Crypto Tra [Read more]
IMPACT SNAPSHOT
EVENT TIME:
PYPL
Last Price
Price Change
Price Change %
Volume Shares
Max Up
Max Down
Volume Ratio
%
Don't Miss Out On The Next BIG Stock Move
Performance comparison Updated
EVENT DAY
Stock performance from the time of news release until the following 4pm ET market close
LAST PRICE AT
NEWS EVENT
SINCE EVENT
Multi-day stock performance from the time of the news release
LAST PRICE
VWAP
High:
MAX UP
High:
Low:
MAX DOWN
Low:
%
 POST NEWS RANGE
%
PRICE CHANGE
PRICE CHANGE PERCENTAGE
S&P 500 (SPX)
%
 VOLUME RATIO
%
VOLUME (SHARES)
TICKS
AVG SHARES PER TRADE
EVENT DAY
Event Day Chart will not be displayed beyond 90-day period of the event
PERFORMANCE SINCE EVENT
TIME AND VELOCITY ANALYSIS