NYC strongly promotes cryptocurrency with a new advisory partner under the leadership of Mayor Eric Adams.
The global cryptocurrency market surpasses $3.4 trillion thanks to political support and optimism regarding regulations.
As the U.S. reasserts its position in the global cryptocurrency race, New York City is positioning itself as a hub for digital asset innovation.
New York Mayor promotes cryptocurrency innovation
Mayor Eric Adams, a long-time supporter of blockchain adoption, recently announced a new initiative aimed at bringing cryptocurrency companies back to the city.
At a press conference on May 12 at Gracie Mansion, Adams emphasized his intention to create a friendlier environment for both startups and established tech corporations in the digital asset space.
"We focus on the long-term values of these technologies for the city and its people, not chasing trends or fads."
During the announcement of a strategic partnership with key financial figures, including June Ou from Figure and Richie Hecker from Traction and Scale, who will now advise NYC's digital asset roadmap, he added,
"If you work in cryptocurrency, blockchain, Web3, or fintech, New York City is ready for your business."
Amidst his re-election campaign, the mayor is committed to making New York City a thriving cryptocurrency hub.
He also promised to actively collaborate with cryptocurrency and technology companies to shape policies and initiatives that not only attract innovation but also ensure long-term success for businesses choosing to operate in the city.
"My goal remains the same as it was on day one as mayor: to make New York City the cryptocurrency capital of the world."
Is Trump behind this vision?
Undeniably, Adams' vision reflects the former President Donald Trump's call to make the U.S. the global capital of digital assets.
Since taking office in January 2022, Adams has made cryptocurrency a core component of his political identity, even converting his first three paychecks to Bitcoin.
His 2023 financial framework shows modest holdings in BTC, although he later implied that their value has significantly increased by the end of 2024.
Despite facing criticism over campaign contributions from abroad, a case that was ultimately dismissed, Adams' political journey seems bolstered by support from federal figures, including Trump.
Historically criticizing the restrictive Bitlicense framework imposed by the New York Department of Financial Services (NYDFS), Adams has called for its repeal to foster innovation.
However, he recently acknowledged the importance of protecting investor interests, a balanced perspective that could redefine the city's regulatory stance while still encouraging the growth of digital assets.
"But at the same time, we can overdo it and stifle growth. There is a level of safety that comes with proper regulation, but excessive regulation can harm the industry, and we don't want that to happen."
Current market conditions
This coincides with the global cryptocurrency market regaining momentum as the U.S. recovers from the volatility stemming from Trump’s tax policies.
According to the latest update from CoinGecko, the total market capitalization reached $3.42 trillion, up 3.3% in the past 24 hours.
Although Bitcoin [BTC] fell 2.4% to $102,782, the overall outlook remains optimistic due to improved regulations and increasing political support for digital assets both in New York and nationwide.
Source: https://tintucbitcoin.com/eric-adams-new-york-thien-duong-tien-dien-tu/
Thank you for reading this article!
Please Like, Comment, and Follow TinTucBitcoin to stay updated with the latest news in the cryptocurrency market and not miss any important information!
