NYC Mayor-elect Eric Adams is vowing to make the United States’ largest city more friendly to cryptocurrencies and is even exploring the possibility of releasing the city’s own cryptocurrency, pointing to the mayor of Miami as inspiration.
“He has a MiamiCoin that is doing very well – we’re going to look in the direction to carry that out,” Adams said in a radio interview the morning after beating Republican Curtis Sliwa by over 30 percentage points for the mayoral position.
The mayor-elect added that he will look into what is hampering the growth of Bitcoin and other cryptocurrencies in the Big Apple and emphasized that the NYC workforce must be prepared and skilled in jobs relating to the growing cryptocurrency industry.
Adams has made improving the business-friendliness of New York City a top priority of his, arguing that there is no reason the city cannot be competitive in the battle for successful businesses.
“We’re too bureaucratic, too expensive, and too difficult to do business,” Adams said in a later interview. “Our agencies – they go into businesses and are looking for ways to penalize or fine them. We’re changing that atmosphere altogether. This is the Empire State, and we’re going to build empires.”
(YWN World Headquarters – NYC)
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4 Responses
Who needs to worry about “virtual reality” or the Metaverse. New York is already an alternative reality where of all the issues of public concern, the mayor-elect wants to coin crypto and the soon to be ex-mayor wants to bring to Albany what he has created downstate.
I know little about cryptocurrency, but this strikes me as a favor by the mayor-elect to someone who is promoting or trading in cryptocurrencies. There is also a US constitutional issue – minting currency is an exclusive federal authority. As I understand it, cryptocurrencies are favored by people who don’t want governments to keep track of their businesses and income, like drug dealers and tax cheats. Why would any government support that?
“As I understand it, cryptocurrencies are favored by people who don’t want governments to keep track of their businesses and income, like drug dealers and tax cheats. Why would any government support that”
You realize you are describing half of NY
Will every major city soon have it’s very own cryptocurrency?