Source: Cointelegraph
Original: “New York City Mayor Eric Adams Launches Cryptocurrency Advisory Committee”
New York City Mayor Eric Adams announced the establishment of a digital advisory committee aimed at attracting job opportunities and investments to the Big Apple, positioning it as the "global cryptocurrency capital."
"This is not simply about chasing internet fads or trends," Adams emphasized at the first-ever New York City Cryptocurrency Summit on May 20. "We want to leverage future technologies to better serve the citizens of New York City today."
"We have top experts here who will assist us in developing solutions that serve the city," he added. "The era of tokenization, including cryptocurrencies, blockchain, and other fintech innovations, has arrived, and we will continue to keep pace with the times."
Adams did not disclose specific details about the advisory team but stated that he would announce the committee chairperson and key policy recommendations in the coming weeks.
We're taking the next step in becoming the Crypto Capitol of the WORLD, hosting our city's first-ever Crypto and Digital Assets Summit! Join us LIVE as we get started: https://t.co/iwO6ThkaSB
On May 12, Adams announced that financial services company Figure, along with private equity firms Traction and Scale, would assist the city in advancing its work in the cryptocurrency sector.
According to Adams, New York City will also explore the possibility of using cryptocurrencies to pay for specific services and taxes, as well as utilizing blockchain technology to manage sensitive information such as birth and death records.
"Introducing blockchain security capabilities to the city means that birth and death records can remain accessible to New Yorkers and their close relatives while maintaining privacy," Adams explained.
He further stated, "We want to bring future job opportunities into the present city. This means supporting the development of a more diverse, equitable, and inclusive tech ecosystem. We must embrace this emerging technology and continue to move forward based on our economic achievements."
New York state legislators have proposed several cryptocurrency regulatory bills. In April of this year, state assemblyman Clyde Vanel introduced a bill aimed at amending the state's financial laws to allow New York state government agencies to accept cryptocurrencies as a form of payment.
However, the bill has not yet been submitted for consideration by the state assembly or senate.
In February of this year, New York state senator James Sanders Jr. introduced the "Blockchain Study Bill," which would establish a dedicated cryptocurrency working group to investigate the state of cryptocurrencies in New York. Currently, the bill has not made progress in the assembly.
Since taking office in January 2022, Adams has made digital assets a key component of his policy platform, announcing at that time his plan to receive his first three months' salary in Bitcoin (BTC).
He was previously charged with allegedly accepting illegal donations from the Turkish government, but Department of Justice officials intervened and instructed local authorities to intervene. The case was "dismissed with prejudice" on April 2, meaning it cannot be retried.
The trend of states in the U.S. developing cryptocurrency-related legislation is growing, with at least 18 states currently considering bills to establish strategic Bitcoin reserves. According to data from Bitcoin reserve monitoring agencies, New Hampshire and Arizona have successfully passed such legislation.
Related: Senate Stablecoin Bill Vote Sparks Division Among Democrats, Anti-Corruption Concerns Become Controversial Focus
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