According to Cointelegraph, New York City Mayor Eric Adams criticized Democratic mayoral candidate and former Governor Andrew Cuomo, stating that he 'dismantled and destroyed the industry' during his tenure and plans to establish a city council to promote cryptocurrency policy.
Adams stated at the Permissionless conference in Brooklyn that he plans to use cryptocurrency payments for municipal services and introduce digital asset education in schools. He remarked that the number of bills addressing cryptocurrency at the federal level is impressive.
Cuomo faces allegations of misconduct and resigned in 2021, but he is leading in the Democratic primary. Adams plans to compete against Republican candidate Curtis Sliwa and others.
Adams pushes for New York City to establish Bitcoin-backed municipal bonds, despite the comptroller calling it legally questionable and fiscally irresponsible. Adams faces corruption allegations, with Justice Department officials appointed by Trump getting involved.
