New York's Mayor-Elect to Take His First Paychecks in Bitcoin

New York's Mayor-Elect to Take His First Paychecks in Bitcoin

Democrat Eric Adams, who was elected as New York City's 110th mayor earlier this week, has just announced that he will take his first three paychecks in Bitcoin.

Shortly after the election, Adams vowed to make the Big Apple a cryptocurrency-friendly city in an interview with Bloomberg, following Miami's suit:

He has a MiamiCoin that is doing very well — we’re going to look in the direction to carry that out.

We're too bureaucratic, too expensive and too difficult to do business.

New York state is notorious for its draconian BitLicense requirements that make it extremely challenging for crypto businesses to legally operate in the financial capital of the world. Earlier this week, Miami Mayor Francis Suarez, who scored a landslide relection victory on Tuesday, tweet that he would accept his next paycheck entirely in the largest cryptocurrency.

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