NYC Mayor Candidate Wants to Make the City a Bitcoin Hub

By Prashant Jha
Published June 24, 2021 Updated June 24, 2021
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Source: Yahoo

NYC Mayor Candidate Wants to Make the City a Bitcoin Hub

By Prashant Jha
Published June 24, 2021 Updated June 24, 2021

Eric Adams, the front runner from the Democratic party to become the mayor of New York City seems to have taken a cue from Andrew Yang and has promised to make NYC a Bitcoin hub within a year of getting elected. Adams promised to make NYC the next Bitcoin hub and take the crown from Miami, which is currently seen as the hotspot for crypto companies and businesses. He said,

“I promise you, in one year […] you’re going to see a different city. […]. We’re going to become the center of life science, the center of cybersecurity, the center of self-driving cars, drones, the center of bitcoin, we’re going to be the center of all the technology,”

Andrew Yang withdrew his candidature from the election after amassing the least percentage of votes among the democratic candidates just a few days back. Young was a known crypto advocate who has run his Presidential campaign on the same theme. Adams’s assurance to make the city a Bitcoin hub could help in taking crypto adoption to the mainstream.

New York Could Become a Bitcoin Hub in the Wake of Chinese Crackdown

New York City council rejected a bill last month that called for the halting of Bitcoin mining operations in the city. In the wake of the recent crackdown in China on Bitcoin mining where miners are relocating in hoards, NYC could become a key destination along with Texas and a few other states. Miami mayor has is already looking to pass legislation to lure crypto miners and make Bitcoin more mainstream in the city.

A Mayor with Bitcoin as a poll promise could prove to be a win-win situation for the crypto community as well as the city.

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Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
Prashant Jha
1203 Articles
An engineering graduate, Prashant focuses on UK and Indian markets. As a crypto-journalist, his interests lie in blockchain technology adoption across emerging economies.

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