Main navigation

New York's Mayor-Elect to Take His First Paychecks in Bitcoin

News
Thu, 11/04/2021 - 17:58
article image
Alex Dovbnya
Eric Adams is courting the cryptocurrency community after his big victory
New York's Mayor-Elect to Take His First Paychecks in Bitcoin
Cover image via stock.adobe.com
Read U.TODAY on
Google News

Democrat Eric Adams, who was elected as New York City's 110th mayor earlier this week, has just announced that he will take his first three paychecks in Bitcoin

Shortly after the election, Adams vowed to make "the Big Apple" a cryptocurrency-friendly city in an interview with Bloomberg, following Miami's suit:  

He has a MiamiCoin that is doing very well — we’re going to look in the direction to carry that out.

Related
Jefferies' Wood Sells More Gold for Bitcoin
The mayor-elect said that he would strive to remove hurdles that are hindering the growth of Bitcoin and the broader cryptocurrency industry: 

We're too bureaucratic, too expensive and too difficult to do business.

New York state is notorious for its draconian BitLicense requirements that make it extremely challenging for crypto businesses to legally operate in the financial capital of the world. 

Earlier this week, Miami Mayor Francis Suarez, who scored a landslide relection victory on Tuesday, tweet that he would accept his next paycheck entirely in the largest cryptocurrency.    

article image
About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.