New York City’s Mayor, Eric Adams, has shared his cryptocurrency strategies amidst the Democratic primary voting, in which he has been openly critical of Democratic mayoral candidate and ex-Governor Andrew Cuomo. Adams condemned Cuomo’s tenure as governor, stating that it resulted in the “dismantling and destroying” of the crypto industry and labeling Cuomo’s approach to digital assets as ill-advised and erroneous.
During the Permissionless conference held in Brooklyn on Tuesday, Adams, who is seeking reelection as an independent candidate, revealed his plans to establish a city council dedicated to promoting cryptocurrency policies at the state level. He also intends to facilitate the use of cryptocurrency for city services and to introduce digital asset education in schools.
“The number of bills that were passed at the federal level to address this issue in the first 120 days is truly remarkable,” Adams commented, possibly alluding to Congress’ efforts to regulate payment stablecoins and the cryptocurrency market structure. “Now we’re seeing cities and states join in with the same momentum.”
The mayor’s comments were made amidst a heated Democratic primary on Tuesday, with Cuomo, who resigned in 2021 amidst allegations of sexual misconduct and an impeachment investigation, seemingly leading the race.
Adams, a known crypto enthusiast who announced that his first three mayoral paychecks would be in Bitcoin, said he still holds the funds. He is expected to compete against Republican candidate Curtis Sliwa and the winners of the Democratic primary in November.
Adams has been advocating for the establishment of a Bitcoin-backed municipal bond in New York City. Despite criticism from Comptroller Brad Lander who labeled the proposal as “legally dubious and fiscally irresponsible”, Adams suggested at the Permissionless conference that he was exploring ways to overcome the opposition.
Adams himself has faced legal challenges during his tenure, including corruption charges over alleged illegal donations from the Turkish government. These charges led to interventions from Justice Department officials appointed by former US President Donald Trump, sparking resignations and allegations of politically motivated actions.
