New York Mayor Eric Adams takes supportive stance on crypto mining moratorium signed by Governor Hochul.
for bankruptcy protection earlier in November, amid serious liquidity problems. He insisted that “we must embrace” the crypto and blockchain industry despite its low points.passed
the state assembly and senate. “I shared my thoughts… That’s the way our government works,” Adams told the Daily News on Friday, vowing to work with the legislators who are in support as well as those who have concerns about crypto. “I believe we are going to come to a great meeting place,” he added.
A Bloomberg report unveiled that the New York governor has been postponing the signing of the law due to lobbying from the sector. In a legal filing, Kathy Hochul pledged to “ensure that New York continues to be the center of financial innovation, while also taking important steps to prioritize the protection of the environment.”
Although Hochul argued that the new law could spur crypto development and the use of green power like hydroelectric energy, New York has been seen as a tough jurisdiction for starting a business working with crypto assets even before the enactment of the mining law. Adams has tried to change that image, insisting that crypto is part of a broader financial frontier for the state to conquer, the report notes. “Now, there’s aspects of this bill that people didn’t agree with. I know Albany. Let’s go back. Let’s look at them,” he was quoted as stating, adding that New York City should be a leader in this and other new technologies.
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