New York Mayor Reaffirms Ambition to Make City Global Crypto Capital

New York Mayor Eric Adams has reiterated his ambition to transform the city into the world’s crypto capital. The official made this statement ahead of the inaugural summit on digital assets, scheduled for May 20.

“We are focused on the long-term values of these technologies […], rather than chasing memes or trends,” Adams stated.

He highlighted the positive impact of cryptocurrencies and blockchain on the city’s underprivileged population, who face barriers in accessing financial services.

According to the mayor, the summit aims to foster a “cross-pollination” of ideas to advance the metropolis’s industry in the “right direction.”

Adams pledged to collaborate with tech companies and create a supportive environment to help them thrive.

“If you are working in crypto, blockchain, Web3, or fintech, New York is open for business,” he explained.

Separately, the city’s CTO, Matt Fraser, highlighted the advantages of the technology, particularly in easing access to vital information such as birth and death records.

Back in his mayoral campaign, Adams announced he would receive his first three paychecks in Bitcoin.