Detroit residents will be able to pay taxes with crypto from mid-2025

November 8, 2024 Coin Telegraph

Detroit says the move to begin accepting crypto as payment for taxes and other city services was part of a broader effort to “modernize and improve” its payment channels.

Detroit will soon allow its residents to pay their taxes and other city fees with cryptocurrency as the city looks to “modernize” and attract blockchain companies to the city, according to an announcement from Detroit’s Office of Treasury.

In a Nov. 7 statement, the Detroit Treasury said the new crypto payment options would be offered through a “secure payment platform managed by PayPal” from mid-2025.

The announcement did not clarify which cryptocurrencies Detroit would accept as payment, but PayPal currently provides support for a small number of major crypto assets, including Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH), Litecoin (LTC), and its own in-house stablecoin PayPal USD (PYUSD).

Coinbase Opposes Billion Lawsuit Over WBTC Delisting by Bit Global

Coinbase Opposes $1 Billion Lawsuit Over WBTC Delisting by Bit Global

Alchemy Pay reveals plans to launch layer-1 blockchain

October 28, 2024 Coin Telegraph

ACH token

Alchemy Pay said that users would have the option to pay their gas fees with fiat or its native ACH token.

Crypto payment provider Alchemy Pay announced that it would launch a layer-1 blockchain called Alchemy Chain to support the “growing needs” of its business operations.

In an announcement, Alchemy Pay said the blockchain will be built using a Solana Virtual Machine (SVM) architecture. The company said it would enable interactions between offchain storage and blockchain-based transactions.

In addition, the firm said that its goal is to establish a system where “fiat currencies and cryptocurrencies coexist without friction.”

Coinbase Opposes $1 Billion Lawsuit Over WBTC Delisting by Bit Global

South African Bank Blocks Crypto Payments, Faces Industry Backlash

October 21, 2024 Bitcoin.com

Africa

South African bank Capitec has blocked electronic funds transfers and real-time payments to cryptocurrency exchanges as a security measure. While Capitec acknowledges growing interest in cryptocurrencies, the bank maintains that the measure is necessary to protect clients from fraud. Some industry players view this move as an attempt to restrict crypto trading. Crypto Payments Blocked […]

Coinbase Opposes $1 Billion Lawsuit Over WBTC Delisting by Bit Global

Stripe in talks to acquire stablecoin platform Bridge — report

October 18, 2024 Coin Telegraph

Bridge

Stablecoins pegged to the United States dollar have outpaced Bitcoin as a store of value in developing countries with runaway inflation.

Stripe, a payments processing company, is reportedly in talks to acquire stablecoin platform Bridge, according to unnamed sources familiar with the deal.

According to Bloomberg, the deal has not yet been finalized, and either party could still walk away without inking an agreement.

The potential acquisition by Stripe comes amid the payment company's planned re-entry into the digital asset sector after a six-year break from providing crypto payment services.

Coinbase Opposes $1 Billion Lawsuit Over WBTC Delisting by Bit Global

Luno, Zapper Partner for Crypto Payments at 31,000 Merchants

October 8, 2024 Bitcoin.com

Africa

South African crypto exchange Luno has partnered with Zapper to enable crypto payments at over 31,000 merchants. This partnership aims to expand crypto’s use beyond investment and into daily transactions. The partnership is part of a broader trend in South Africa, with other exchanges like Valr and supermarkets like Pick n Pay also accepting crypto […]

Coinbase Opposes $1 Billion Lawsuit Over WBTC Delisting by Bit Global

Brazil tests DeFi elements, compatibility in Drex CBDC pilot

October 4, 2024 Coin Telegraph

Brazil CBDC

Brazil’s central bank is developing a synthetic central bank digital currency, which aims to blend decentralization, privacy and programmability.

Brazil is incorporating decentralized finance (DeFi) principles into ongoing experiments toward developing its in-house “synthetic” central bank digital currency (CBDC), Drex, which was previously called the digital Brazilian real.

On Oct. 3, Roberto Campos Neto, president of Banco Central do Brasil, highlighted the country’s need for a multidimensional CBDC that addresses the “trilemma” of decentralization, privacy and programmability — challenges that traditional markets have struggled to resolve simultaneously.

While presenting for a Markus’ Academy presentation on The Future of Financial Intermediation, Neto said:

Coinbase Opposes $1 Billion Lawsuit Over WBTC Delisting by Bit Global

Ohio to consider accepting crypto for tax payments and fees

September 30, 2024 Coin Telegraph

Coin Telegraph

They tried once in 2018, but the State Board of Deposits "failed" to show any enthusiasm.

An Ohio state senator has introduced a bill to require the state to accept cryptocurrency for payment of state taxes and fees. The legislation would also allow state institutions of higher education and the state pension fund to invest in cryptocurrency if they choose to.

Niraj Antani introduced the bill on Sept. 30, according to a press release.

Under the bill, the state tax commissioner would decide which cryptocurrencies would be accepted in any year by June 30:

Coinbase Opposes $1 Billion Lawsuit Over WBTC Delisting by Bit Global

Coinbase CEO Brian Armstrong Says Crypto Payments Will Go the Way of Instant Messaging As Friction Vanishes

September 12, 2024 The Daily Hodl

Brian Armstrong

Coinbase chief executive Brian Armstrong thinks crypto is the best payment rail option in the world. While speaking at a Goldman Sachs conference this week, Armstrong notes that Base, Coinbase’s layer-2 Ethereum (ETH) scaling solution, has reduced global transaction confirmation times to under one second and transaction fees to less than $0.01. The Coinbase CEO […]

The post Coinbase CEO Brian Armstrong Says Crypto Payments Will Go the Way of Instant Messaging As Friction Vanishes appeared first on The Daily Hodl.

Coinbase Opposes $1 Billion Lawsuit Over WBTC Delisting by Bit Global

Metamask Partners With Mastercard to Launch Crypto-Backed Debit Card in Europe

August 14, 2024 Bitcoin.com

Baanx

Metamask has teamed up with Mastercard and Baanx to launch a debit card that lets users spend their crypto assets directly from their self-custody wallets. Consensys, the firm behind the project, views this new card as a pivotal step in weaving digital currencies into everyday life. Mastercard and Metamask Team Up to Launch Crypto Debit […]

Coinbase Opposes $1 Billion Lawsuit Over WBTC Delisting by Bit Global

AI Agents Will Use Crypto To Transact With Each Other, Says Former Goldman Sachs Executive – Here’s His Outlook

August 14, 2024 The Daily Hodl

Ex-Goldman Sachs executive Raoul Pal is predicting that artificial intelligence (AI) agents will one day use crypto assets to transact with each other. In a new video update, the Real Vision CEO says that in the not-so-distant future, AI agents are probably going to use digital assets to pay for things like electricity, with the […]

The post AI Agents Will Use Crypto To Transact With Each Other, Says Former Goldman Sachs Executive – Here’s His Outlook appeared first on The Daily Hodl.

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