Crypto

Detroit to Accept Cryptocurrency for Taxes and Fees by 2025

Published

1 year ago

November 8, 2024

Detroit to Accept Cryptocurrency for Taxes and Fees by 2025

Detroit residents will soon be able to pay taxes and other city fees with cryptocurrency, the city announced on Nov. 7. Starting mid-2025, the Detroit Office of Treasury will offer crypto payment options through a secure platform managed by PayPal.

While specific cryptocurrencies weren’t listed, PayPal currently supports major coins like Bitcoin, Ether, Bitcoin Cash, Litecoin, and its own PayPal USD stablecoin.

Detroit’s decision to accept crypto aligns with the city’s efforts to modernize its payment systems and make itself more attractive to blockchain companies. “Detroit is building a tech-friendly environment for residents and businesses,” said Mayor Mike Duggan, expressing excitement about the city’s blockchain initiatives.

The city is also inviting blockchain entrepreneurs to propose ideas for civic projects using blockchain. Entrepreneurs have until Dec. 15 to submit their concepts via email to Justin Onwenu, Detroit’s director of entrepreneurship and economic opportunity.

This move makes Detroit one of several U.S. cities, like Miami Lakes in Florida and Williston in South Dakota, that accept crypto for civic services. States like Colorado and Louisiana also accept crypto payments with third-party vendors such as PayPal and BitPay.

Detroit’s crypto-friendly initiative comes soon after Donald Trump, a pro-crypto figure, was elected President, sparking expectations for more crypto-friendly policies, including potential regulatory reforms and a national Bitcoin reserve.

Also Read: Denmark Proposes Tax on Unrealized Crypto Gains by 2026

Crypto

Crypto Tax Pressure Reaches Congress as Lawmakers Face Urgent Push to Rewrite Federal Rules

Published

17 minutes ago

December 17, 2025

Press Room

Lawmakers are confronting rising pressure to modernize cryptocurrency tax policy as uncertainty clouds compliance, threatens U.S. competitiveness, and forces Congress to weigh legislative action amid warnings that capital and innovation could move offshore.

Crypto

Cryptocurrency becomes trendy holiday gift option

Published

12 hours ago

December 16, 2025

Press Room

Cryptocurrency becomes trendy holiday gift option

PHOENIX (AZFamily) — Cryptocurrency is appearing on more holiday wish lists as gift-givers look for alternatives to traditional presents.

A new survey from the National Cryptocurrency Association and PayPal shows 24% of Americans have given or are considering giving cryptocurrency this holiday season.

The survey also found that 17% of consumers would rather receive cryptocurrency than a gift card, and 31% of Americans believe crypto gifts are less likely to go unused than gift cards.

“It’s actually a trending holiday gift, especially compared to gift cards,” said Ali Tager, a spokesperson for the NCA. “We know crypto is becoming increasingly mainstream.”

Tager said people like receiving cryptocurrency because it has the potential to increase in value.

“There’s so much you can do with this technology and it’s still in its early days,” she said.

Financial advisor Angelica Prescod said there are other investment options to consider for gift-giving.

“One of them is just gifting people something simple. Maybe some shares of some stocks that you may already have, that you are gifting over, or you can give them the cash to do so and open up their own account and feel involved in the process,” Prescod said. “For most folks [cryptocurrency] is not really the go to.”

Gift-givers can also contribute to 529 plans for college and other education expenses.

“It’s that gift that potentially can keep on giving,” Prescod said.

For those still interested in giving cryptocurrency, experts recommend doing research first.

“Like with everything, anywhere, you always want to do your research. You want to make sure to verify your sources. You never want to take financial advice from strangers or click on random links that you receive,” Tager said.

The National Cryptocurrency Association offers a crypto simulator that helps users learn how to choose an exchange, set up a wallet, and send and receive cryptocurrency without spending real money.

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Crypto

Visa Targets Banks and Fintechs With Stablecoin Advisory Launch as Adoption Pressure Tightens

Published

1 day ago

December 16, 2025

Press Room

Visa Targets Banks and Fintechs With Stablecoin Advisory Launch as Adoption Pressure Tightens

Visa is moving deeper into stablecoin-powered payments as adoption surges, launching a new advisory practice to help banks, fintechs, and enterprises design, assess, and deploy stablecoin strategies across global payment and treasury operations.