Before his indictment on criminal charges, NYC Mayor Eric Adams promised to turn the city into a major crypto hub. Three years after his election, Adams faces controversy and scrutiny over his pro-crypto policies and alleged criminal activities. Despite promising to make NYC the ‘center of Bitcoins’ and holding Bitcoin himself, many question the tangible impact he has had on the crypto industry in the city.
Adams’ reported Bitcoin holdings, public support for crypto innovation, and initiatives like discussing blockchain in city council meetings are highlighted. However, challenges such as New York’s strict BitLicense regime and regulatory hurdles pose obstacles for crypto businesses in the state.
With Adams facing legal challenges and potential removal from office, the future of his pro-crypto policies remains uncertain. His situation serves as a reminder of the promises and risks associated with electing pro-crypto politicians and the broader implications for the industry as a whole.
