New York’s mayoral elections will culminate in an election in November, when New York residents will vote on a candidate to replace incumbent Bill de Blasio. Mayoral candidates are increasingly turning to crypto as part of their campaigns, with a number of recent nominees using a pro-crypto stance to attract voters.
Nominee Curtis Silwa, running as an independent in the November New York Mayoral election, has been vocal on his support for crypto, tweeting:
“As New York City Mayor, I will make NYC the most cryptocurrency-friendly city in the nation. Property taxes, fines, and fees will be payable in crypto. We will open more crypto ATMs & incentivize businesses to accept crypto. We must modernize our economy & make it accessible for ALL!”
Silwa is not the only pro Bitcoin mayoral nominee, fellow New Yorker Eric Adams who won the recent Democratic mayoral primary is also a crypto advocate,having previously revealed his support for the “disruptive technology” and most recently declaring at a campaign watch party:
“We’re going to bring business here. We’re going to become the center of life science, the center of cybersecurity, the center of self-driving cars, drones, the center of Bitcoins”
The recent focus on cryptocurrency in New York politics is the result of the growing interest in digital currency, particularly with New York being viewed by many as the hub of crypto in the US.
Despite the momentum that cryptocurrency is experiencing, and a number of mayors who are pro-crypto, the industry has had to face regulatory scrutiny and a considerable amount of skepticism by many politicians.
Last month congress passed a $1.2 trillion Infrastructure Bill, a controversial legislation that includes a proposal on the taxation of crypto purchases and transfers to fund the development of infrastructure. The unclear language as regards the definition of a “broker” and differing opinions has caused outrage in the crypto community, as well as demonstrating the polarised nature of bi-partisan politics in the US.
While politicians may vary in their views on the subject of cryptocurrencies, the fact that they are being brought to the attention of the mainstream will certainly influence the adoption of cryptocurrencies.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.