Beginning in 2025, Detroiters will have the option to pay their taxes and other city fees with cryptocurrency, the city announced Thursday, making Detroit the largest city in the U.S. to accept cryptocurrency for taxes.

The payments would be handled by PayPal, which would accept the cryptocurrency, then convert it to regular U.S. dollars for the city. That approach would shield Detroit from the risk of wild fluctuations in the value of such digital currencies, city Treasurer Nikhil Patel said in a phone interview.

Detroit will begin accepting cryptocurrencies for city fees and taxes, becoming the largest U.S. city so far to do so, says a statement from Mayor Mike Duggan. Only Colorado, Utah, and Louisiana accept cryptocurrency for state payments, the statement notes.

Detroit aims to be the largest U.S. city to accept cryptocurrency for taxes and municipal fees by mid-2025, using PayPal's secure platform.

Detroit residents will soon be able to pay their taxes using cryptocurrency, the city announced Thursday. The move to allow residents to pay taxes and other city fees would make Detroit the largest city in the U.S. to accept cryptocurrency payments, according to city officials.

Detroit announced it is on track to become the largest city in the U.S. to accept cryptocurrency as a form of payment for taxes and other fees. The city said it is using a secure platform managed by PayPal for the new crypto payment option,

A lot of this appears to be a marketing ploy to position Detroit as an innovation hub, according to the city’s announcement, and comes just as President Trump has won a second term in office; he has said he would support a loosening of regulation on crypto.

Starting next year, Detroit residents will be able to pay their taxes and other city fees using cryptocurrency. Detroit is set to become the largest U.S. city to do this.

Detroit is set to make history as the largest U.S. city to accept cryptocurrency payments for taxes and municipal fees. This initiative was announced by city officials and will launch in mid-2025 through a secure platform managed by PayPal.