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New York Mayor Eric Adams Announces Crypto Summit to Make City Global Hub

Coin WorldTuesday, May 13, 2025 8:10 am ET

1min read

New York City Mayor Eric Adams has announced his intention to host the city’s first official crypto summit next week, aiming to foster mutual benefits between the city and the crypto industry. Adams, who has long been a supporter of crypto assets, described himself as crypto-friendly even before assuming office. He recalled converting his first three paychecks into Bitcoin and Ethereum, highlighting the growth of the industry since then.

During a press conference at Gracie Mansion, Adams emphasized his goal of making New York City the "crypto capital of the globe." He stated that the summit, which will bring together public officials and crypto industry innovators, is part of a broader strategy to attract world-class talent, provide opportunities for underbanked communities, and make government more user-friendly. Adams' vision includes forming strategic partnerships, hosting the planned crypto summit, and implementing pro-industry policies to position New York as a leading destination for cryptocurrency and blockchain technology.

Adams believes that while the crypto industry views mass adoption as inevitable, balanced regulation is needed to protect investors without impeding innovation and growth. He acknowledged the challenges New York faces in navigating regulatory hurdles and competing with other major financial centers. However, his determination and strategic initiatives position New York as a strong contender in the race to become the world's leading crypto hub.

The upcoming New York Crypto Summit, scheduled for May 20, is a key component of Adams' plan. This event will bring together industry leaders, policymakers, and innovators to discuss the future of cryptocurrency and its potential impact on the global economy. The summit is expected to showcase New York's commitment to becoming a hub for crypto innovation and investment.

Adams' push for New York to become the crypto capital of the globe is likely to have a significant impact on the city's economy. By embracing cryptocurrency, New York can attract new investments, create jobs, and drive innovation in the tech sector. This proactive approach to digital assets is a testament to Adams' vision for a forward-thinking and dynamic city.

In summary, Mayor Eric Adams' pledge to make New York the "crypto capital of the globe" is a bold and strategic move aimed at positioning the city as a leader in the cryptocurrency and blockchain technology sectors. Through partnerships, a planned summit, and pro-industry policies, Adams is working to attract crypto businesses and foster innovation, ultimately driving economic growth and technological advancement in New York.

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