This was announced on his Twitter account, where he stated: “In New York we always go big, so I’ll take my first THREE Bitcoin paychecks when I’m mayor. NYC will be the center of the cryptocurrency industry and other fast-growing innovative industries! Wait!”
In the early years of cryptocurrency, the American city served as the home for the first business initiatives that arose around what was by then just a libertarian experiment. But everything changed when regulators attacked.
The introduction of the call BitLicense In New York, a prohibitive regulation that raised compliance costs to levels unmanageable for the nascent industry, produced a massive exodus of companies in 2015. Since then, the iconic financial center has become a territory only accessible to those with enough money. to pay for it.
Until last year, only 25 companies had managed to obtain the license. And while the New York Department of Financial Services had consulted the public about changes to this regulation, there were no changes in this regard. Still, the new Democratic mayor wants to tackle what was a huge handicap to the industry.
Adams also assured that he will address “what is preventing the growth of bitcoin and cryptocurrencies in our city.” And as can be read in the tweets in response to the announcement about his salary, the modification of the BitLicense is a matter of urgency for residents.
Source From: Ambito
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