I want to make the city crypto friendly; Mayor-elect of New York

Eric Adams, the mayor-elect of New York City, promises to make New York a crypto friendly jurisdiction.

On Tuesday, he was elected as the city’s second black mayor, defeating a Republican opponent. He previously served in the NYPD and the New York State Senate before becoming Brooklyn Borough President. His election campaign was focused on fighting crime and building a business-friendly community.

Nonetheless, now that he has been chosen mayor, Adam intends to utilize blockchain to promote financial development in the city.

According to Bloomberg, he said that the city is too complicated and costly for businesses to operate in due to fines and fees imposed by authorities. He urged them to work together in order to make the neighborhood more business-friendly.

Despite the fact that New York City is home to Bitlicense, cryptocurrency firms find it difficult to enter the market. The licensing procedure is lengthy and expensive.

The City of New York’s second black mayor has called on the city to create a talent pipeline for crypto-related enterprises. This would prevent the formation of a one-sided metropolis in which certain groups and neighborhoods are succeeding while others are not.

Creating crypto-friendly cities

During his term in office, Brooklyn has seen a 356 percent increase in information start-ups over ten years. He promises to continue what they began in Brooklyn and retain technology employment in New York City

Adams claimed that he started a friendly rivalry with Miami’s mayor, Francis Suarez. Adams stated that Miami has already made its own city coins and plans to do the same in New York. Their mayor, who was instrumental in establishing a CityCoin cryptocurrency, is also supporting it.

Mayor Suarez claims that Miami has earned $7.1 million in one month through a cooperation with the CityCoins protocol. He also tweeted that he will be paid in Bitcoin after his next contract is up. Mr. Suárez’s commitment to making his city a cryptocurrency center is obvious.