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Who’s Laughing Now? NYC Mayor Embraces Bitcoin Ahead of Crypto Summit

BBG News

Ah, New York! The city that never sleeps, now also never stops talking about Bitcoin. Mayor Eric Adams, perhaps not without a touch of swagger, has decided to let the world know that NYC is firmly planting its flag in the world of cryptocurrency. A noble cause, one might think, especially if you happen to be a fan of digital coins—or a mayor who fancies himself the next financial visionary.

Eric Adams’ Grand Vision: A Bitcoin Utopia in the Big Apple

While the rest of the United States saunters toward a Bitcoin-laden future, New York City, with its iconic skyline and general sense of superiority, is determined to make up for lost time. Mayor Adams, grinning like a Cheshire cat, has laid out an ambitious blueprint to crown his city as the “crypto capital of the world.” Yes, you heard it right. Not just the U.S., not just the world—New York. The audacity! But let’s be real, it’s a city that could sell sand in a desert, so why not sell some crypto too?

At a recent press conference, Adams issued his plea to cryptocurrency service providers everywhere: come to New York. Build your empire. The mayor assures us that New York will welcome them with open arms and probably a red carpet. With promises of a regulatory climate so friendly it might just offer a free pizza, Adams is eyeing something grand: a Bitcoin Reserve Bill, something like what New Hampshire has. So it’s not just talk—there’s ambition behind it. And we all know ambition makes great headlines.

“We should be looking forward to building empires, particularly in the crypto space,” said Adams, surely imagining himself at the head of a giant golden throne made entirely of Bitcoin. “My goal remains the same as it was on day one as mayor: making New York City the crypto capital of the globe.” Is anyone else getting deja vu from the countless other ‘firsts’ this city loves to claim?

Oh, and let’s not forget that Adams, back in 2021, already made his love for Bitcoin known—before it was cool. Now, with Bitcoin prices soaring above $105K and the U.S. scrambling to create a Strategic Bitcoin Reserve, Adams couldn’t resist throwing a little shade at his critics. “Who’s laughing now?” he quipped, probably imagining that he’s the only one with an actual answer to the question. So, who is laughing now, indeed?

Crypto Summit: Will NYC’s Plans Survive The Financial Regulators?

So, the city is throwing a big party—sorry, “summit”—to celebrate its Bitcoin ambitions. The inaugural NYC Crypto Summit will be held next week, featuring crypto firms, regulators, and city officials. Naturally, Adams will lead the charge as the visionary who’s going to show us all the way forward—toward a future where every subway rider might just be mining Bitcoin on the side.

But here’s the thing: while Adams’ plans are bold, there’s a little obstacle known as the New York Department of Financial Services (NYDFS). Ah yes, the NYDFS. Famous for its strict Bitlicense rules that make you feel like you need a PhD just to apply. Critics wonder if these regulators, who’ve built a reputation for their ‘tough love’ approach, might just get in the way of Adams’ grand crypto plans. But don’t worry, folks—Adams has assured us that they’ll all work together, and in the end, it will be a “win-win” situation. Just like that time you thought you could eat pizza without gaining weight. Spoiler alert: it wasn’t.

“It’s good to know that the city is going to have safe regulations in place for those who are investing, and there’s not going to be any abuses,” said Adams, sounding like he’s auditioning for a role as a financial superhero.

As the digital asset landscape begins to feel more like a rollercoaster ride, with Bitcoin surging and altcoins flourishing, New York is gearing up for a revolution—one that may or may not involve a few billion-dollar bubbles. But hey, isn’t that the charm of it all?

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2025-05-13 03:19

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