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.
In New York we always go big, so I’m going to take my first THREE paychecks in Bitcoin when I become mayor. NYC is going to be the center of the cryptocurrency industry and other fast-growing, innovative industries! Just wait!
— Eric Adams (@ericadamsfornyc) November 4, 2021
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.
Advertisement
Alex DovbnyaWe'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.
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Arman Shirinyan
Dan Burgin
Vladislav Sopov