Why the Next New York Mayor Will Get Three Paychecks in Bitcoin

New York Mayor Eric Adams tweeted that he would like to receive his first three salaries in Bitcoin. On November 2, Miami Mayor Francis Suarez said that he would receive his next salary in Bitcoin, and if so, he could say that he would receive three months’ worth.

The reason these markets are talking about Bitcoin to this extent is because they are trying to achieve the status of a cryptocurrency mecca in the United States. The city of Miami created its own cryptocurrency, MiamiCoin, for the first time in an American city in August. When Miami Coin is mined, 70% goes to the miners and 30% goes to the city of Miami. According to reports, the city has so far earned more than $7.1 million from Miami Coin mining.

Also, earlier this year, Mayor Suarez announced a plan to tax bitcoin and withdraw employee salaries with cryptocurrency, while holding a cryptocurrency conference called Bitcoin 2021, drawing attention from the industry. Perhaps because of the anticipation of such a move, some cryptocurrency exchanges and startups are starting to relocate with offices in Miami.

Meanwhile, New York City has so far been passive about Bitcoin and cryptocurrencies. Earlier this year, New York City even criticized Congress for a bill to conduct an environmental assessment to determine changes in greenhouse gas emissions by banning bitcoin mining in the city for three years.

But this time, the next New York mayor, when he was nominated by the Democratic Party in June, announced his ambition to make New York City Bitcoin-centric and all-tech-centric, and pledged to foster a new business. He also said that he wants to catch up with Miami when it comes to policies on bitcoin and cryptocurrencies.

However, even in New York, which is known as the world’s largest financial city, it is necessary to push ahead with cryptocurrency more strongly than Miami, a leading player, in order to seize hegemony with cryptocurrency. It is also interesting to see how it will form a relationship with the financial companies that have built an empire in New York.

In addition, outside the United States, El Salvador and other countries have already set Bitcoin as a legal currency. China is pursuing measures to make all bitcoin transactions illegal while promoting its own cryptocurrency, the digital yuan. Related information can be found here.