New York City Mayor Eric Adams criticized Democratic mayoral candidate and former Governor Andrew Cuomo as citizens prepared to participate in the party's primary voting.
Adams spoke at the Permissionless conference in Brooklyn on Tuesday, stating that during Cuomo's tenure as governor, New York State "dismantled and destroyed this industry," describing the former governor's actions regarding digital assets as "wrong" and "misleading."
The mayor, who is running for re-election as an independent candidate, indicated that he plans to establish a city council to advocate for state government crypto policies and "build pipelines" by using cryptocurrency to pay for city services and introducing digital asset education in schools.
"I think the number of bills addressing this issue at the federal level in the first 120 days is impressive," Adams said, likely referring to Congress's progress on regulating payment stablecoins and crypto market structure legislation. "Now you see cities catching up, and states are following the same momentum."
The mayor's comments come as Cuomo faces off against other Democratic candidates in what is expected to be a heated primary on Tuesday. The former governor resigned during an impeachment investigation in 2021 amid allegations of sexual misconduct. However, multiple polls show Cuomo leading the second-place candidate, Democratic candidate Zohran Mamdani, by double digits.
Adams gained recognition in the crypto industry for announcing plans to accept his first three paychecks as mayor in Bitcoin (BTC), stating that he still holds those funds. He may face off against Republican candidate Curtis Sliwa—who also promoted crypto policies during his 2021 campaign against Adams—along with the Democratic primary winner and other candidates in November.
In addition to council and education-focused policies, Adams has been advocating for New York City to establish Bitcoin-backed municipal bonds. Comptroller Brad Lander called the proposal "legally questionable and fiscally irresponsible," but the mayor hinted at the Permissionless conference that he is exploring ways to "bypass" the opposition.
The mayor is also facing his own legal challenges during his tenure. He has been under scrutiny for corruption allegations related to illegal donations from the Turkish government. Officials from the Justice Department, appointed by President Trump, intervened and instructed local authorities to take action, leading to allegations of resignation and politically motivated actions.
Related: Federal Reserve Cuts "Reputational Risk" Review for "Targeting" Cryptocurrency Companies
Original: “New York City Mayor Lays Out Crypto Plans as City Residents Vote in Democratic Primary”
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