NY’s new Mayor asks for Bitcoin payments.

2 mins read
Eric Adams.

Eric Adams, New York City mayor-elect, has said he would like to receive his first three paychecks in bitcoins. The former police captain was elected this week at the end of Mayor Bill de Blasio’s term in January. Adams said on social media that he wanted to signal his intention to make New York the “center of the crypto industry”.

The value of Bitcoin, the largest cryptocurrency in the world, has been very volatile since its inception in 2009. Adam’s comments seem to be an attempt to outdo Miami Mayor Francis Suárez, who had already said in his own Twitter message that he would receive his first Bitcoin paycheck after being re-elected. Mr. Suarez has already said that he wants to establish Miami as a hub for cryptocurrency innovation. Mr Adams increased the stake by demanding a three month payment in cryptocurrency.

Ex-policeman wins New York Democratic Area Code US leads bitcoin mining as China ban goes into effect Bitcoin mining produces tons of waste “New York always makes it big, so I take my first three paychecks a bitcoin. I’m going to be mayor, “wrote Adams in a Twitter post. “New York City is set to be the hub of the cryptocurrency industry and other fast-growing and innovative industries! Adams, a Democrat, was elected Tuesday to become the city’s second black mayor.

In August, Suárez helped build a cryptocurrency called MiamiCoin, operated by a nonprofit called CityCoins, that sends 30% of the value of the coin created on a person’s computer to the city and raised $ 7 million for Miami, so the Washington Post. Mr. Adams told Bloomberg Radio that he would like to do something similar in New York.

If Adams, who has targeted a pro-business platform, tries to establish New York as a hub for cryptocurrencies, he could face resistance. The cryptocurrency has been heavily criticized in the past for its environmental impact. And New York Attorney General Letitia James, who will run for New York Governor, recently launched crackdown on unregistered cryptocurrency companies.

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