NYC Mayor Eric Adams launches crypto advisory council
New York City Mayor Eric Adams plans to establish a digital advisory council aimed at making the city the "crypto capital of the globe." The initiative, announced at the New York City Crypto Summit, focuses on leveraging technology to enhance services for residents. Details about the council's leadership and policy recommendations will be revealed soon. Financial services company Figure and private equity firms Traction and Scale will assist in these efforts. The city is exploring the acceptance of crypto for certain services and taxes, and intends to use blockchain technology for managing sensitive records like birth and death certificates. New York State lawmakers have introduced several bills to regulate crypto, including a proposal to allow state agencies to accept crypto payments. Adams has prioritized digital assets since taking office in January 2022, including accepting his paychecks in Bitcoin. Recent legislation in other states aims to establish Bitcoin reserves, with New Hampshire and Arizona successfully passing related laws.
