Eric Adams, the crypto-friendly mayor advocates for listening to those who work in the crypto industry regarding regulations. The Mayor of New York City has urged regulators to listen to crypto experts. The reason behind this calling is that they develop the regulatory framework for cryptocurrencies.
As part of the Financial Times Crypto and Digital Assets Summit, Adams says that the essential thing is to listen to those within the business. According to Adams, this is something new, and often we are frightened when it comes to new technology. Especially something like cryptocurrencies and blockchain, he noted.
Moreover, Adams suggested cooperating with state politicians and regulators. In addition, he revealed that his office is working with state colleagues to analyze the landscape surrounding cryptocurrency and digital assets. This is to assure alignment with more traditional ways of financing.
As per Adams, it is not enough to simply think outside the box. Instead, he advocates for destroying the box. This is a new way of looking at the world.
Mayor of NYC and Crypto Industry
An enthusiast of crypto, Adams used Bitcoin and Ethereum for his first salary as Mayor of NYC. He fulfilled a campaign promise that his first three salaries would be in the digital currency. In order to comply with U.S. Department of Labor standards, the money was immediately converted from fiat to cryptocurrency by crypto exchange Coinbase.
At the time, Adams said that collecting his paycheck in crypto helped put New York City on the first line of innovation. In addition, the Mayor said that “New York is the center of the globe, and we want it to be the center of cryptocurrencies and other financial breakthroughs.”
Announcing his desire for Bitcoin back in 2015, Adams called it a disruptive technology. He considers BTC is disrupting technology and the whole world. In addition, he listed his desires, such as Airbnb and some marijuana dispensaries.
During his election campaign, Adams noted that their city is going to become a hub for life sciences, cybersecurity, self-driving cars, drones, and Bitcoin.
On the other hand, Miami Mayor Francis Suarez is competing with Adams for the title of ‘America’s Bitcoin Mayor.’ With the recent Bitcoin 2022 conference, Suarez announced his desire to make Miami the “Bitcoin, blockchain, and mining capital of the globe.” Besides, last year, Adams complained that Miami was beating New York in business.