Detroit to Enable Crypto Tax Payments & South Korea Eyes Corporate Crypto Investment in December

Detroit to Accept Cryptocurrency for Tax Payments by Mid-2025 

Detroit authorities have just announced an innovative plan that will affect the way the city's public services, including taxes, are paid with cryptocurrency through PayPal, starting off mid-2025. Detroit Mayor Mike Duggan explained that Detroit "will be leading among major U.S. cities in blockchain adoption" in the hope of making public services more available and driving further economic growth. 

The city also hopes this takes another approach in its ways of helping Detroit's highly unbanked population and expanding the avenue for their making of such a payment. Only Detroit is joined by major cities such as Miami Lakes and states like Colorado in expressing curiosity about what blockchain can do to update civic engagement.

South Korea to Decide on Corporate Crypto Investment Rules 

The country's financial regulator is set to consider a proposal in December allowing corporate crypto investment, which could pave the way for adding digital assets such as Bitcoin and Ethereum to their balance sheet. 

The greenlighting may also give stability to the crypto market and probably double the crypto market capitalization of South Korea. The watchdog's Virtual Assets Commission is keeping a close watch on international precedents for what potential impacts that could have, while local firms are hungry to understand regulations in order to match the worldwide crypto adoption trend.

Conclusion

From Detroit's progressive crypto tax initiative to the highly awaited regulatory decision out of South Korea, these changes mark major steps toward digital asset mainstream adoptions in the civic and corporate worlds.