The leadership of New York state that representatives of the traditional financial system are afraid of new phenomena, and this is especially evident when it comes to cryptocurrencies and Blockchain. During the Financial Time Summit on Digital Assets, Mayor of New York Eric Adams, urged regulators to listen to representatives of the cryptocurrency industry in order to create a quality legislative framework for the industry. The official is confident that by listening to industry representatives, regulators will be able to achieve such conditions for the industry that would suit all participants in the economic system.
Opening up to new technologies, is not just about thinking outside the box, but breaking down the established framework and realizing that this is a new time for all global business..Eric Adams
At the beginning of the year, when Adams first took over as mayor, he announced that he was converting his first salary into Bitcoin and Ether. His administration was intent on making New York a hub for cryptocurrencies and financial innovation. During the campaign, Adam made cryptocurrencies his central theme, stating that he believes in digital currencies and the freedom they bring.
Adams said that his office is actively working with government partners to assess the situation around digital assets to ensure compliance with standards, as in the traditional financial system.