Detroit to Accept Crypto Payments with PayPal’s Aid
Next year, Detroit will become the largest U.S. city to accept crypto payments for taxes and fees.
This feat will be accomplished with the assistance of PayPal, which will handle the crypto payments and convert them into U.S. dollars. Detroit will not hold any digital assets, as all conversions will take place before funds are received by the city.
“They are trying to be innovative, and accepting a variety of payments should make it easier for citizens to pay taxes and fees,” said Joel Hugentobler, Cryptocurrency Analyst at Javelin Strategy & Research. “However, by receiving all payments in dollars, the excitement ends there. If at the federal level there are strategic bitcoin or other…
