NYC Mayor invited tech enterprises and crypto firms to amplify their presence in the city.
New York City Mayor Eric Adams declared the city’s first crypto summit to be held at Gracie Mansion next week. In a press conference on Monday, he reiterated his aim of “making NYC the crypto capital of the globe.”
Mayor Adams emphasize that technology is one of the fastest-developing industries in the city. He also invited tech enterprises and crypto firms to enlarge their presence in the city.
“We’re in the middle of nothing quick of a technological revolution, the age of tokenization, which includes crypto, blockchain, and other fintech developments,” he addressed the gathering “More on that to come following the summit, however for now, I want to repeat, in case you’re into crypto, blockchain, Web3, or the fintech space, New York City is open for enterprise.
Further, he mainly mention how crypto and blockchain could have a positive effect on the city’s underbanked population.
“I really need to highlights on underbanked communities, because this new form of financing and finance is something which can effect those communities which have historically found themselves lacking in access to banks.”
Mayor Adams Appoints Two New Crypto Advisors
Eric Adams, who’s running for re-election, has declared that June Ou, who’s the co-founder of Figure Firm, and Richie Hecker, the CEO of Traction and Scale, might be joining the city’s crypto space.
“They’re joining our world-class roster of crypto skills and resources in New York City,” he noted.
The Mayor and the main crypto competencies would work with tech corporations to create a friendly environment for business.
“The summit will convey collectively crypto innovators and influencers to share insights and experiences that they may use to chart our path forward.”
The summit appears two months after President Trump had a similar event at the White House The landmark occasion brought together top industry leaders, regulators, and government officials.
“We are targeted at the long-time period values of those technologies for our city and those people, not chasing memes or trends.”
‘We Can’t Over-Regulate, That Will Prevent Growth:’ Adams
Adams highlights the needs for balanced regulation when speaking about the NYDFS’ law of the crypto industry. He stated that safe rules are possible for people who are making an investment; however, over-regulation might prevent growth.
“So there’s a level of protection that comes with the right rules, but over-policies can harm this industry and we don’t need that to happen,” he noted.
Mayor Adams has been bullish on crypto when you consider that he was elected in 2022, accepting his first three paychecks in Bitcoin. At that time, “many people laughed at me, and all I can say is, who’s laughing now?” he stated.
Additionally, Adams has been dealing with corruption costs for his involvement in alleged illegal donations from the Turkish administration. However, the case was dismissed in April with prejudice, on the request of the DOJ underneath the Trump administration. The Mayor met President Trump on May 9 to reportedly thank him for his “phrases of support” at some point of his 2024 campaigns.
