‘Crypto Mayor’ Eric Adams Calls for End to New York’s BitLicense
New York Mayor Eric Adams advocates for the crypto community, proposing the creation of a Bitcoin Bond and the elimination of the BitLicense requirements. He emphasizes New York's potential as a hub for cryptocurrency, inviting businesses to return without fear of regulation. The BitLicense, established in 2015, mandates strict compliance for crypto businesses, with costs ranging from $5,000 to over $100,000. Adams highlights the importance of innovation and aims to position New York City as a leader in the crypto industry. He encourages community engagement and support for local lawmakers to protect the industry. Adams draws a parallel between Bitcoin and the story of Betsy Ross, underscoring the grassroots nature of cryptocurrency. He urges the Bitcoin community to demonstrate their influence to prevent regulatory threats.
