Andrew Yang Wants to Make New York a Hub for Bitcoin and Cryptocurrencies
First Wyoming, then Miami, and now New York, cryptocurrency adoption is rapidly growing.
As we reported, Miami Mayor, Francis Suarez, is working hard on getting the city to lead in technology advancement, and as such, he had gone full-on Bitcoin by enabling the employees to be paid in Bitcoin, taxes and resident fees to be filed in BTC and even putting the digital currency in the city’s Treasury.
But New York might soon compete with Miami to attract the crypto crowd.
Andrew Yang, who is running a campaign to be New York Mayor, and according to a new poll released Wednesday, is actually commanding a double-digit lead in the Democratic primary for mayor, has some big crypto plans for the city as well.
In December last year, Yang, an entrepreneur, and former Presidential candidate, officially filed paperwork to run for New York City mayor. This week, he shared his intention to make the city a bitcoin hub if elected. Yang tweeted,
“As mayor of NYC – the world’s financial capital – I would invest in making the city a hub for BTC and other cryptocurrencies.”
Yang has previously praised cryptocurrencies and advocated for clear regulations surrounding the sector.
New York’s State Department of Financial Services actually introduced BitLicense for businesses dealing in digital assets and granted several during the period of 2015 and 2019.
However, the crypto community isn’t really in support of this license, and even a lawsuit has been filed against NYDFS to abolish BitLicense because it created a “complex and burdensome” set of requirements.
“End the bitlicense,” replied Neeraj K. Agrawal of crypto policy think tank Coin Center to Yang’s tweet on Wednesday.
“Have seen countless companies leave NYC as a result of the overly arduous process, or not enter the market in the first place,” voiced Elizabeth Stark, the co-founder, and CEO of Lightning Labs, in support of Agrawal.
Yang is not the only Bitcoin proponent who is running for Mayor; Bitcoiner Chamath Palihapitiya, as we reported, has also been running a campaign to be California’s governor.