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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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- 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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Key U.S. Senator on Crypto Bill, Lummis, Negotiating Dicey Points With White House
The Republican lawmaker who is among the core negotiators on the U.S. market structure bill said the White House has rejected some ethics language.
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- Sen. Cynthia Lummis (R-Wyo.) said she is negotiating with the White House on behalf of Senate Democrats trying to insert ethics provisions into Congress' market structure legislation.
- Lawmakers should reveal a new draft market structure bill by the end of the week and hold a markup hearing next week, she said.
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