New York City Mayor Talks Again About Building the Encryption Capital: Rejecting Meme Speculation, Pursuing Long-Term Value

New York City Mayor Eric Adams once again demonstrated support for crypto assets and Blockchain technology, emphasizing that the city government will aim for long-term value, promoting financial inclusion and technological innovation. He indicated that New York is not chasing hype, but rather seeking to genuinely support disadvantaged groups and create a friendly development environment for technology companies. The city government will also host the first Crypto Assets Summit on May 20, attracting global players to participate.

The mayor sets the crypto vision for New York: no chasing memes, only discussing value.

New York City Mayor Adams reiterated his commitment to "building a global crypto hub" at a press conference held on Monday at Gracie Mansion. He stated that the New York City government is focused on the long-term value that Blockchain technology can bring to the city and its residents, rather than short-term speculation.

What we want is the profound changes brought about by the technology, not following the hype of memes or popular trends.

He specifically mentioned that Blockchain and Crypto Assets have the potential to solve the issue of financial exclusion, helping the "unbanked population" not covered by the traditional financial system to establish financial autonomy.

(Trump supports: Anchorage Digital CEO accuses bureaucratic policies of abuse of power, bullying Crypto Assets operators)

Crypto Assets finance assists the disadvantaged and democratizes public services

New York City Chief Technology Officer Matt Fraser also stated at the press conference that the application of Blockchain technology is not limited to the financial sector, but can also promote the openness and transparency of public data.

We see the potential of Blockchain, which allows citizens to more easily access important information such as birth and death registrations, truly realizing the democratization of information.

Adams believes that if these technologies are used effectively, they can lower the threshold for municipal services, allowing more citizens to participate, especially disadvantaged groups that have historically been excluded from the mainstream system.

1st New York Crypto Summit: Building a Cross-Industry Thought Exchange Platform

In addition, New York City will hold its first Crypto Summit at the Mayor's residence on May 20, bringing together government officials, industry representatives, technology developers, and policy advocates to discuss the future direction of encryption and Blockchain. Adams emphasized that the city government will continue to collaborate with technology companies to create a favorable innovative industry environment:

This summit will bring about a "cross-disciplinary exchange of ideas," injecting new directions into New York's encryption industry.

The mayor personally attracts investment: New York opens its doors to Crypto Assets.

Adams specifically addressed global operators in his speech:

I want to emphasize again: no matter if you are in the encryption, Blockchain, Web3 or fintech field, New York City welcomes you.

This mayor, who advocates for crypto-friendliness, received his first three salaries in 2022 in the form of Bitcoin and Ethereum, fulfilling his commitment to Crypto Assets and becoming one of the few politicians to openly support the crypto industry.

(The mayor of New York City receives his salary in Bitcoin, doubling down and taunting the critics: Look at who laughs last )

Lawsuit dismissed, election campaign restarted: Adams seeks re-election as an independent.

It is worth mentioning that Adams has just freed himself from five federal charges, including wire fraud, last month, all of which have been dismissed at the request of the Department of Justice. He is currently running for the 2025 mayoral election as an independent.

The timing of this political restructuring coincides almost exactly with Trump's proactive embrace of the Crypto Assets industry. Adams clearly hopes to strengthen his governance legitimacy and citizen support by enhancing technology industry policies and adopting a crypto-friendly attitude.

( Inventory of the Trump family's creation of their own Crypto Assets empire: from NFTs to stablecoins, is it optimistic or just a cash machine? )

Amid the ups and downs of the global crypto market, New York City has chosen to promote the integration of crypto and blockchain technology into public governance and the urban economy with a pragmatic and long-term policy orientation. This intention may serve as a starting point for the city's transformation. However, whether New York can truly become the "Crypto Capital of the World" in the future remains to be seen.

This article discusses New York City's mayor reiterating the creation of a Crypto Assets capital: rejecting hype and pursuing long-term value. It first appeared in Chain News ABMedia.