New York City Mayor Reiterates Commitment to Creating a Crypto Capital: Rejecting Hype and Pursuing Long-Term Value
New York City Mayor Eric Adams Reiterates Support for Cryptocurrency and Blockchain Technology
New York City Mayor Eric Adams has once again demonstrated his support for cryptocurrency and blockchain technology, emphasizing that the city government will focus on long-term value to promote financial inclusion and technological innovation. He stated that New York is not chasing speculation but aims to substantively support marginalized communities and create a friendly development environment for tech companies. The city government will also hold its first cryptocurrency summit on May 20, attracting global participants.
Mayor Sets the Vision for Cryptocurrency in New York: No Chasing Trends, Only Discussing Value
Mayor Adams reiterated his commitment to “building the global crypto capital” during a press conference held at Gracie Mansion on Monday. He stated that the New York City government is focused on the long-term value that blockchain technology can bring to the city and its residents, rather than short-term speculation: “What we want is the profound change that this technology can bring, not following the hype of memes or trending topics.”
He specifically mentioned that blockchain and crypto assets have the potential to address financial exclusion issues, helping the “unbanked” populations not covered by traditional financial systems to gain financial autonomy.
Cryptofinance Assists the Underprivileged, Democratizing Public Services
New York City Chief Technology Officer Matt Fraser also stated at the press conference that the application of blockchain technology is not limited to finance but can also promote the openness and transparency of public data: “We see the potential of blockchain to make it easier for citizens to access important information such as birth and death registrations, truly achieving the democratization of information.” Adams believes that if these technologies are utilized effectively, they can lower the barriers to municipal services, allowing more citizens to participate, especially those historically excluded from mainstream systems.
First New York Cryptocurrency Summit: Creating a Cross-Disciplinary Exchange Platform
Additionally, New York City will host its first cryptocurrency summit at Gracie Mansion on May 20, expected to bring together government officials, industry representatives, technology developers, and policy advocates to explore the future of cryptocurrency and blockchain. Adams emphasized that the city government will continue to collaborate with tech companies to create an innovative industry environment: “This summit will bring about ‘cross-disciplinary idea exchange,’ injecting new directions into New York’s crypto industry.”
Mayor Personally Recruits: New York Opens Its Doors to Crypto
In his remarks, Adams specifically reached out to global participants: “I want to reiterate: whether you are in crypto, blockchain, Web3, or fintech, New York City welcomes you.” This crypto-friendly mayor had already received his first three paychecks in Bitcoin and Ethereum as early as 2022, demonstrating his commitment to cryptocurrency, making him one of the few politicians openly supporting the crypto industry.
Legal Issues Resolved, Campaign Restarted: Adams Seeks Reelection as an Independent
It is worth noting that Adams recently cleared five federal charges, including wire fraud, with all cases being dismissed at the request of the Justice Department. He is currently running for the 2025 mayoral election as an independent candidate. The timing of this political restructuring coincides almost perfectly with Trump’s active embrace of the crypto industry. Adams evidently hopes to strengthen his governance legitimacy and public support through enhanced tech industry policies and a crypto-friendly stance.
As Global Crypto Market Experiences Ups and Downs, New York Chooses a Pragmatic and Long-Term Policy Direction
Amid the fluctuations of the global cryptocurrency market, New York City has opted for a pragmatic and long-term policy direction, promoting the integration of cryptocurrency and blockchain technology into public governance and urban economy. This intent could possibly serve as a starting point for the city’s transformation. However, whether New York can truly become the “global crypto capital” remains to be seen.
Risk Warning
Investing in cryptocurrency carries high risks, and prices may fluctuate dramatically, potentially resulting in the loss of your entire principal. Please assess risks cautiously.
