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City of Austin Approves ‘Fact-Finding Study’ for Tax Payments in Bitcoin, Crypto
The Texas city will investigate the feasibility of adopting “bitcoin or other cryptocurrencies” with a study due in mid-June.
By Danny Nelson
Updated May 11, 2023, 6:37 p.m. Published Mar 24, 2022, 10:18 p.m.
Austin, Texas took a step toward bitcoin adoption Thursday as city councilors greenlit a plan to investigate the feasibility of accepting tax payments via “bitcoin or other cryptocurrencies” in the city of 1 million.
Austin’s powerful City Manager will research the change’s legality, its potential to “benefit” public services, its impact on the economy and the environment and “analysis of the financial stability and security of cryptocurrency,” per a draft of resolution 55. This “fact-finding study” is due on June 16.
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Austin’s plan vaults it to the forefront of U.S. cities that view crypto as a potentially lucrative municipal energizer. Mayors in Miami, New York and Jackson, Tenn., have similarly leaned into crypto initiatives over the past year.
“Everyone is looking for innovative solutions to tackle municipal challenges, and this may be an option we look to in Austin,” Mayor Steve Adler tweeted on March 18 after a meeting with 25 mayors.
“My support for this does not” signal whether bitcoin payments are a good thing or a bad thing for the municipality to accept, council member Anna Kitchen said, highlighting this was a proposal “for analysis, not for action.” A number of other council members echoed her narrow support.
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What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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Bhutan commits up to 10,000 bitcoin to back new mindfulness-based economic hub
The Himalayan kingdom plans to deploy part of its sovereign bitcoin holdings to fund long-term development through Gelephu Mindfulness City.
What to know:
- Bhutan committed up to 10,000 bitcoin toward the long-term development of Gelephu Mindfulness City, a new economic hub in southern Bhutan.
- The pledge builds on Bhutan’s years-long use of bitcoin mining powered by surplus hydropower.
- Officials say any use of bitcoin will prioritize capital preservation, transparency and long-term stewardship.
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