NYC mayor Eric Adams becomes the first government official to receive paycheck in cryptocurrency
Eric Adams, the mayor of New York City, made good on a previous promise by getting his first paycheck in cryptocurrency via automatic conversion.
Adams’ paycheck was changed into BTC and ETH, according to a statement sent by the mayor’s office on Thursday morning.
In a statement, Adams said, “New York is the centre of the globe, and we want it to be the centre of cryptocurrencies and other financial innovations.” “Being at the vanguard of such innovation will help us create jobs, strengthen our economy, and maintain our status as a global talent magnet.”
The paycheck was converted via Coinbase, according to the mayor’s office.
During his campaign for mayor, Adams promised to make the city more crypto-friendly, but there are limits to what the NYC mayor can do in terms of particular concerns about state-level regulatory factors in play, as Aislinn Keely of The Block recently investigated. Still, industry insiders told The Block that having a mayor who is openly pro-crypto will be good in the long run.
