New York Mayor Eric Adams reaffirmed his goal of making the city the crypto capital of the world. The official stated this ahead of the upcoming May 20 summit dedicated to digital assets.
"We are focused on the long-term values of these technologies [...], not on chasing memes or trends," Adams pointed out.
He mentioned the positive impact of cryptocurrencies and blockchain on the low-income population of the city, which faces barriers in accessing financial services.
According to the mayor, the summit should lead to a 'cross-pollination' of ideas to advance the metropolis's industry in the 'right direction'.
Adams promised to collaborate with technology companies and create a friendly environment to help them succeed.
"If you work in the fields of cryptocurrency, blockchain, Web3, or fintech, New York is open for business," he explained.
Separately, the city's CTO Matt Fraser noted the benefits of the technology, particularly for facilitating access to important information such as birth and death records.
After being elected mayor, Adams stated that he would receive his first three salaries in bitcoin.
