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Mayor-Elect Eric Adams hopes to turn New York City into a crypto-friendly city

November 3, 2021, 4:31 PM UTC

New York City Mayor-Elect Eric Adams said he wanted to turn New York into a crypto-friendly city and wagered a “friendly competition” with the mayor of Miami, who was the first to set up a so-called CityCoin cryptocurrency.

“He has a MiamiCoin that is doing very well—we’re going to look in the direction to carry that out,” Adams said in a Wednesday interview on Bloomberg Radio. He vowed to “look at what’s preventing the growth of Bitcoin and cryptocurrency in our city.”

The mayor-elect said the city must build a pipeline of talent for crypto-related jobs, “because we can’t have a one-sided city where certain groups and areas are doing well.”

Adams defeated his Republican opponent Curtis Sliwa Tuesday in a landslide victory to become the city’s second Black mayor. Throughout his campaign, he focused on fighting crime and creating a business-friendly city.

When asked how he’ll keep tech jobs in the city, Adams said he’ll do it “by doing what I have been doing.”

In Brooklyn, where Adams has been borough president, there’s been a 356% increase in tech startups in a 10-year span, he said. In the past three months, he’s sat down with tech leaders, including those from Israeli and local companies, and two days ago, he met with 30 tech startups.

In a separate interview with Bloomberg Television Wednesday, Adams reiterated his pledge of making New York a business-friendly city.

“We’re too bureaucratic, too expensive, and too difficult to do business,” Adams said. “Our agencies—they go into businesses and are looking for ways to penalize or fine them. We’re changing that atmosphere all together.”

“This is the Empire State, and we’re going to build empires,” he said.

After winning the Democratic primary in July, Adams said he would look to overhaul city leadership.

Adams said in his first few days he will appoint a police commissioner, schools chancellor, as well as people in the Department of Buildings and Human Resources Administration.

He’s going to look at those who have “emotional intelligence,” he said. “I want to know are you empathetic? Do you have the compassion to change the culture within our agencies?”

—With assistance from Tom Keene and David Westin.

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