NYC Mayor-Elect Wants to Make City More Crypto Friendly

U.S. Regulators Investigating Role That Banks Could Play in Crypto Industry

New York City Mayor-elect Eric Adams was asked during a recent interview with Bloomberg what he would do to make the city more crypto friendly. 

The current Brooklyn borough President listed three things. First, Adams said he would look into “what’s preventing the growth of Bitcoin and cryptocurrency” in New York, as part of a larger push to become a “business-friendly” city.

Next, the Mayor-elect mentioned his soon-to-be counterpart in Miami, Mayor Francis Suarez. Adams said he had met with Suarez, and that they “want to have a friendly competition,” highlighting Suarez’s efforts with MiamiCoin, adding that he wants to do something similar.

Finally, Adams emphasized building “a pipeline of young people that can fill these jobs and understand the new technology.” He added that these jobs should contribute to great equity in the labor market, saying “we can’t have a one-sided city where [only] certain groups and areas are doing well.”

Miami Mayor’s moves

Miami Mayor Suarez said earlier this week that he would take his next paycheck in Bitcoin, as part of his efforts to make the city appealing for cryptocurrencies. Suarez tweeted in response to Morgan Creek co-founder Anthony Pompliano asking which United States politician would be the first to accept their salary in bitcoin.

Pompliano also responded to the tweet, asking City of Miami CIO/Director of Innovation and Technology Mike Sarasti to help set the process up. The latter was enthusiastic and said that he had already initiated the registration link. Suarez’s decision to accept his salary in bitcoin was hinted at last month when he said that paying government employees in bitcoin was a “major priority.”

Meanwhile, MiamiCoin has proven one of the most notable developments with respect to Miami’s embrace of crypto. The prototype token was launched through CityCoins, and generated over $1 million from a 30% revenue through miners within its first 10 days.

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