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Mayor of New York to receive first salary in cryptocurrency

Eric Adams has revealed his intention to turn the New York metropolis into the center of the cryptocurrency industry and other fast-growing innovative industries.

New York City Mayor Eric Adams, who took office on January 1, will receive his first salary in virtual currency this Friday, as he had announced in November.

Adams said in a statement that his first check will be automatically converted into Ethereum and Bitcoin cryptocurrencies.

“New York is the center of the world and we want it to be the center of digital currencies and other financial innovations,” said Adams, who, in his message, after he was elected, said he would receive his first salaries in bitcoins.

Adams then revealed his intention to turn the New York metropolis into the center of the cryptocurrency industry and other fast-growing innovative industries.

Before the funds become available, Adams’ first check will be automatically converted into digital currency through Coinbase, an online platform through which this type of currency is bought, sold, transferred, and stored.

Due to Department of Labor regulations, the New York City council cannot pay its employees in digital fashion, but, Adams’ statement explained, by using an exchange system, anyone who pays in dollars can convert the funds. before being deposited into your account.

Source: with agencies

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