The lack of knowledge about Bitcoin among young people led Adams to think about that initiative. The New York mayor-elect wants to deal with regulators to make New York a Bitcoin-friendly city.
The elected mayor of New York, Eric Adams, wants the schools to teach about Bitcoin (BTC) and other cryptocurrencies. He recently noted that many young people on the streets asked him about Bitcoin and blockchain technology during the election campaign.
Given that situation, the politician believes that education about crypto assets plays a crucial role. Nevertheless, he recognizes that it is a challenge even for experts in the area to explain.
Adams is interested in guiding young people about Bitcoin because he expects New York to become a Bitcoin-friendly city. In other words, he wants cryptocurrencies to be part of the daily life of citizens.
The mayor of New York has expressed his interest in the pioneering cryptocurrency for a long time. After he won the election, he said that he intended to receive the payment for his services in Bitcoin. However, he clarified that that would only be for his first three paychecks instead of his entire salary.
Adam Wants Bitcoin to Return to New York Despite the BitLicense
Although Mayor Eric Adams is openly a bitcoiner, he will need to deal with regulators and legislation in his state. His objective is to overcome the obstacles that prevent New York from becoming a crypto-friendly city.
The BitLicense (Bitcoin License), which dates back to 2015, is one of the hindrances he has to face. That regulation drove away many of the companies from the industry making life in the city. It imposes high license costs to operate and exposes the personal information of users, among other things.
The Superintendent of Fiscal Services, Benjamin Lawsky, announced the first regulatory framework for digital currency firms in New York on June 3rd. The official legally established that it was born after two years of research to protect consumers and avoid money laundering. He also stated that the regulation sought to implement cybersecurity rules that adapt to companies working with digital currencies.
It is just a matter of time before seeing what the mayor will decide regarding the adoption of Bitcoin in New York. However, the Department of Financial Services of the city has not released the conclusions of a citizen consultation conducted in 2020.
They wanted to know what people thought about a change in the BitLicense in which companies could acquire a conditional license. That measure would allow the latter to do business with those firms that already had the full authorization.
The Department of Financial Services proposed that initiative to find the actual or perceived obstacles by companies that obtain the BitLicense. According to Reuters, companies could spend several years waiting to have that license.
The relevant role of Bitcoin and other cryptocurrencies in the world economy is increasingly evident. The mayor of New York is aware of that situation, which has led him to seek ways for his city to adopt those assets massively.
By Alexander Salazar
