The first-ever Crypto Summit in New York City highlighted Mayor Adams' support for the crypto industry, criticizing the burdensome BitLicense. Despite his previous pledge to transform New York into the 'crypto capital of the world,' the city's complex regulatory environment remains a barrier for startups. Attendees urged for the abolition of the BitLicense and proposed creating a regulatory sandbox to foster innovation. Mayor Adams encouraged the industry to openly advocate for change, signaling a potential shift towards a more welcoming atmosphere for cryptocurrency businesses in the city.
Look how they've treated you. You were treated as though you were the enemy instead of the believers. You've been hiding in the shadows, afraid to come out - come out now.
To build a thriving [crypto] economy, we have to get rid of the BitLicense. We at least need to build a regulatory sandbox in New York City.
New York City should become a sanctuary city from the BitLicense.
Mayor Adams recommitted to making New York the 'crypto capital of the world,' a promise he first made in 2021.
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