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I will take my first three paychecks in Bitcoin, says New York Mayor Eric Adams By BTC Peers

by Mike Robinson

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© Reuters. Eric Adams, New York City Mayor, states that I will receive my three first paychecks in Bitcoin.

Eric Adams is the new mayor of New York City. He has accepted his first three paychecks.

Adams goes further than Miami Mayor Francisco Suarez who revealed Tuesday that his next pay would be in Bitcoin.

Mayor Adams sent the tweet (NYSE:) shortly after Mayor Suarez had made his intentions known.

The decision by both mayors was made in response to a call from podcaster and investor at Morgan Creek Capital Management, Anthony “Pomp” Pompliano, who urged politicians across the US to take their paychecks in Bitcoin.

Suarez is a strong supporter of Bitcoin. In February, he revealed his plans to make city employees pay in Bitcoin. If the council agrees to his proposal, he will also allow residents of city to pay their taxes and bills in Bitcoin.

Miami was also the host of the Bitcoin 2021 conference and the first US city to launch its own cryptocurrency, CityCoin.

Mayor Adams ended his remarks by vowing to make New York more friendly to business, particularly startups.

Adams spoke in an interview to Bloomberg:

We’re too bureaucratic, too expensive, and too difficult to do business […] our agencies — they go into businesses and are looking for ways to penalize or fine them. We’re changing that atmosphere altogether.

Adams, however, has faced stiff opposition as he tries to make New York City more cryptocurrency-friendly. New York state is taking a strict stance in regulating the crypto industry.

New York Attorney General Letitia Jam ordered that crypto lending protocols be suspended in her state. She also sent requests to Celsius and Nexo for more information. The state’s BitLicense framework, which was once recognized as the first comprehensive money transmitter license for crypto companies, is now been considered outdated, restrictive, and incompatible with the current DeFi era.

Prior to Adams’s mayoral election victory, he functioned as the borough president of Brooklyn, leading to a 356% increase in the number of tech startups within the area over the last decade.

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