NYC Mayor-Elect Will Take First Three Paychecks in Bitcoin

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New York City Mayor-elect Eric Adams announced Thursday that he will accept his first three paychecks in Bitcoin, while announcing his intention to make New York City the center of the cryptocurrency industry when he takes office in January.

Adams, a Democrat, will become the second black mayor of the most populous city in the United States in January after defeating Republican Curtis Sliwa, the founder of the Guardian Angels civilian safety patrol, convincingly in last Tuesday’s election.

The mayor-elect’s tweet was a direct response to Miami Mayor Francis Suarez, a staunch supporter of the cryptocurrency, who recently tweeted that he would accept his first paycheck in Bitcoin, the world’s largest cryptocurrency.

“It shows you that bitcoin is attracting a wide range of interest and you can now include the New York mayor,” Edward Moya, senior market analyst at FX broker Oandam, said of Adams’ statement.

It was not the first time Adams has pondered the idea of a cryptocurrency contest between New York City and Miami. After winning the Democratic nomination for mayor in June, he vowed in his victory speech to make the city “the center of bitcoins” and “the center of all its technology.”

The transformation of New York into a crypto hub could invite scrutiny from New York Attorney General Letitia James, who recently led a crackdown on unregistered cryptocurrency companies and announced her candidacy for governor of New York just a few days ago.

For more information, you may view the original story from Reuters.

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