New York City Mayor unveils cryptocurrency initiative, plans to allow crypto payments for city services

According to a report by Jinse Finance, a certain exchange disclosed that New York City Mayor Eric Adams criticized former Governor Andrew Cuomo’s cryptocurrency policies at the Permissionless conference in Brooklyn, calling them “wrong” and “misleading,” and stating that Cuomo “dismantled and destroyed the industry” during his tenure. Adams plans to establish a city council to advocate for cryptocurrency policies and “create channels” for using crypto to pay for city services, while also introducing digital asset education in schools. He also mentioned that he is seeking ways to “circumvent” the city comptroller’s opposition to his plan for Bitcoin-backed municipal bonds. Adams previously announced that he would accept his first three paychecks after taking office in Bitcoin, and said he still holds those funds. He will run as an independent candidate in the November mayoral election.