For the mayor of New York, it is very important that the city turns into a bitcoin city. Eric Adams, the mayor of New York and a strong supporter of cryptocurrencies, said that he is still focused on turning New York into a place for crypto. However, he said that this could be combined with regional initiatives to reduce the environmental costs associated with this type of crypto production.
New York Governor Kathy Hochul previously signed a bill that imposed a 2-year ban on certain crypto investment projects in the state, making New York the first city to restrict the mining of energy commodities.
Hochul signed the ordinance five months after it was approved by the Legislature, despite opposition from Mayor Adams. Mayor Adams said in June that he hopes to negotiate with Governor Hochul to defeat the bill because he says the bill would be bad for New Yorkers. The mayor announced in January that he will receive his first salary in Bitcoin (BTC) and Ether (ETH). The monthly fee will be paid in fiat currency, such as US dollars, and converted into digital currency through Coinbase. Mayor Adam has promised that crypto is part of the domestic technology in the state despite claims from critics that he is now a supporter of Governor Hochul’s bill to ban crypto mining.
New York’s contribution to the crypto community – Bitcoin city
The Federal Reserve Bank of New York formed a partnership with the Monetary Authority of Singapore (MAS) to explore the possibility of using the Central Bank digital currency (CBDC) for international payments in an effort to promote the use of cryptocurrency in the state.
In an effort to reduce fraud and provide protection to the blockchain industry, New York Attorney General Letitia James recently issued a statement that crypto investors are encouraged to contact the Office of the Attorney General (OAG) if they believe they have been misled or influenced. from the crypto crash.