NYC Mayoral Candidate Cuomo Pledges to Create New CIO for Crypto Innovation
Andrew Cuomo, a former New York governor turned mayoral candidate, has pivoted to crypto to beat frontrunner Zohran Mamdani. Cuomo has pledged to make the town a “international hub of the long run.”
In a Sunday announcement, Cuomo introduced that his administration would create a brand new Chief Innovation Officer position to spearhead the town’s tech and crypto innovation.
His proposal comes days after the present mayor, Eric Adams, established the “nation’s first-ever” municipal office for crypto and blockchain. He appointed crypto coverage knowledgeable Moises Rendon to lead the workplace as government director.
Additionally, Adams had beforehand accused Cuomo of dismantling the crypto trade via hostile insurance policies. Last month, Adams withdrew from the mayoral race, ending his re-election campaign, citing monetary struggles.
CIO to Coordinate Multi-Tech Initiatives
Andrew Cuomo famous that the CIO is “a senior administration place” and would work to assist rising industries corresponding to AI and blockchain.
Besides, the position can even be accountable for fostering public-private collaboration and serving to the town’s public sector harness new applied sciences.
“The subsequent Mayor should be certain that we’re additionally main within the applied sciences that may outline the following century — AI, blockchain, and biotech,” mentioned Cuomo.
Further, an Innovation Council, comprising leaders from the three rising tech fields – crypto, AI and biotech, might be established to advise the CIO on coverage developments and client safety.
“That’s what this place is about: Keeping New York City not simply aggressive, however dominant within the international innovation economic system. I’m excited for the long run.”
The Council for crypto and blockchain will discover methods to “change outdated rules with a contemporary framework,” the announcement learn.
NYC Mayor Eric Adams’s Exit Gives Cuomo a Competitive Edge
Adam’s exit has left New York politics with out one of many pro-crypto leaders in elected workplace. With voting scheduled to happen on Nov. 4, the City Hall is skeptical whether or not it could proceed to embrace digital property or take a extra cautious path.
On the opposite hand, Democrat Zohran Mamdani, the mayoral hopeful, has been comparatively silent on crypto. Major crypto figures like Gemini crypto trade co-founder Tyler Winklevoss, in addition to US AI and crypto czar David Sacks, have spat criticism in mild of Mamdani’s rising recognition.
Winklevoss called New York City a “broken kleptocracy.” He added that “issues may have to worsen in NYC earlier than they get higher.”
Sacks referred to as on Silicon Valley to “get up” to the rising communism in New York.
Although the Polymarket poll on NYC mayoral election reveals solely 7% probability for Andrew Cuomo, his involvement within the crypto trade would give him credibility in New York’s complicated regulatory setting.
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