Here's The Fuss Over Crypto Law, Mayors In The US Will Make New York A Center For Innovation And Cryptocurrency

Mayor Eric Adams plans to make New York a tech and crypto hub. (New York Post)

JAKARTA – Eric Adams has been elected Mayor of New York in early November, he plans to make New York a center of innovation and crypto. Adams made the statement to CNN Business Sunday.

When asked if he would encourage businesses in New York City to accept Bitcoin (BTC) or other cryptocurrencies, Adams replied: “We'll see. We will tread carefully. We will do it right.”

“I want to send a signal. This city is the Empire State... It is a hub for innovation, self-driving cars, drone development, cybersecurity, life science. So when I talk about blockchain and bitcoin, young people on the street stop and ask me: 'What is that? About what?'"

Eric Adams, who was elected mayor of New York some time ago, was asked to explain exactly what Bitcoin is. Adams rightly explained that crypto is a new way for transactions around the world. He also plans to open a school to teach blockchain technology and teach new ways of thinking.

“This is a cryptocurrency. It is a new way to pay for goods and services worldwide. And that's what we have to do: open our schools to teach technology and teach this new way of thinking when it comes to paying for goods and services,” said Adams.

Previously, Adams had promised his supporters that within one year he would make New York a different city because it would become a center for technological innovation, science, cybersecurity, autonomous cars, drones, and Bitcoin crypto. He had a vision of making New York the center of all technology. Adams made this statement in June.

“In one year, one year, you will see a different city… We will bring business here. We will be a life science hub, a cybersecurity center, a self-driving car hub, a drone center, a bitcoin hub. We will be the center of all technology.”

Despite the plan, Adams has come under criticism from Jason Furman, a professor at Harvard University and chairman of the Council of Economic Advisors during the Barack Obama administration. Furman criticized Adams' statement earlier in a Twitter post stating that the New York Mayor would receive the first three salaries in Bitcoin.

“Not only is this a bad economic strategy for NYC and a bad investment decision, [but] it also seems like a conflict of interest,” Furman said.

"Like the mayor who announced 'I buy a lot of Amazon stock and then will implement policies to benefit Amazon,'" explained the professor from Harvard University.

Even so, Bitcoin News assesses Bitcoin is not a company and does not have a Bitcoin CEO who benefits from rising Bitcoin prices. Adams confirmed that he used his personal money to invest in BTC.

“I have lost thousands of dollars in the stock market during the stock market crash in my retirement fund. Volatility is part of some of the investments we make,” Adams replied.

"He has his own analysis. I have my own analysis," Adams replied. “And I want to make sure this city becomes a center of innovation, whatever the innovation. This is what the human spirit is all about — not being afraid to look at every area of innovation as we advance our country and city,” said Eric Adams, New York City's new mayor.