New York Mayor Receives First Salary in Bitcoin and Ethereum Crypto Insider

The new mayor of the absolute metropolis New York City, Eric Adams, has long been known for this within the crypto community Pro-Crypto Views. During the election campaign, he even announced that he would receive his salary in the form of Bitcoin. He appears to be putting his money where his mouth is as he will receive his paycheck in Bitcoin and Ethereum today after converting it to crypto Münzbasis.

Eric Adams receives bitcoin

Earlier this month, Eric Adams announced that he fully believes in the potential of blockchain and crypto. He hopes to make New York City a true global center for the new innovative sector.

“New York is the center of the world and we want it to be the center of cryptocurrency and other financial innovation. […] By being at the forefront of innovations like this, we can create jobs, improve our economy and continue to attract talent from around the world.”

in one press release It was announced from his office as mayor that Adams will have his salary automatically converted from dollars to cryptocurrencies on the US trading platform Coinbase.

It is worth noting that this message explicitly states that direct deposit is used cryptocurrencies Can not. Automatic conversion before it appears on the bill is recommended, which Adams does himself.

US regulation

What is clear is that Mayor Adams wants to make his city crypto-friendly. Due to New York’s status as a global city, this can significantly benefit the crypto industry. However, as mayor, Adams obviously has limited powers in enforcing progressive crypto policies.

He must abide by the limits of state and federal legislation. The US government will ultimately be the deciding factor as to what Adams can or cannot do.

In any case, this government seems determined to do so in 2022 to create a unified regulatory system for the crypto world once and for all. Although many investors are wary of such regulation, there’s a good chance the crypto industry can actually benefit from clarity.

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