NYC Mayor Establishes ‘Nation’s-First’ Crypto-Centric Office Ahead of His Exit
Pro-Bitcoin Mayor of New York City Eric Adams has established the “nation’s first-ever” municipal workplace for crypto and blockchain. The Mayor signed an executive order on Tuesday, strengthening the City’s bid to turn into the worldwide crypto capital.
The new Office of Digital Assets and Blockchain goals to advertise “accountable innovation” and alignment throughout stakeholders.
Mayor Adams has appointed crypto coverage professional Moises Rendon to guide the workplace as govt director.
“Mayor Adams’ creation of this new workplace proves that the longer term is now for digital belongings and blockchain in New York City,” stated Rendon.
Digital Assets Office to Strengthen City’s Role in Crypto
The municipal workplace for crypto will develop methods to strengthen the town’s position as a hub for the trade, per an official statement from the NYC Mayor’s workplace. Besides, it’s going to consider new digital belongings and develop initiatives that educate the general public.
Further, the institution will coordinate efforts throughout businesses to make sure alignment of insurance policies, companies, and digital asset initiatives
“The age of digital belongings is right here, and with it comes the possibility to develop our financial system, entice world-class expertise, broaden alternatives for underbanked communities, and make authorities extra user-friendly,” stated Mayor Adams.
Mayor Adams has embraced crypto approach earlier than America’s present pro-crypto outlook. He acquired his first three mayoral paychecks – value $30,000 roughly on the time – in Bitcoin (BTC) and Ether (ETH) in January 2022. Later the identical yr, the mayor stated he nonetheless held the 2 fashionable cryptos, regardless of excessive market turbulence.
The crypto paycheck stunt earned him the title ‘Bitcoin Mayor.’
‘Pro-Crypto’ Mayor Adams Ends Reelection Capaign – Who’s Next?
Last month, Mayor Adams ended his reelection campaign, citing monetary struggles.
Zohran Mamdani, who received the New York mayoral major election on June 24, will face off in opposition to different candidates, together with former governor Andrew Cuomo, in November. Mamdani, the frontrunner within the race, has largely remained silent on crypto.
In June, Tyler Winklevoss called New York City a “broken kleptocracy.” Regarding Mamdani’s surging recognition within the mayoral election, he stated, “It seems issues must worsen in NYC earlier than they get higher.”
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