Tuesday, November 30

Math, English … and bitcoin? Mayor wants to bring BTC to New York schools

Key facts:
  • The initiative is due to the ignorance of young people about bitcoin, said Adams.

  • The mayor-elect wants to make New York a bitcoin-friendly city.

New York Mayor-elect Eric Adams wants to bring bitcoin (BTC) and cryptocurrency education to city schools.

In a interview, Adams indicated that, during the election campaign, many young people on the streets asked him what bitcoin was and what blockchains were.

Faced with this scenario, the politician considers that educating about cryptocurrencies is important, although he also acknowledges that it is challenging to explain “even for experts.”

One of Adams’s reasons for mentoring young people about bitcoin is because he wants to convert to New York in a bitcoin-friendly city, that is, that cryptocurrencies are part of the daily life of citizens.

Adams has shown his interest in bitcoin for a long time. One of the first things he said after winning the election is that he intends to receive payment for his services in bitcoin. Although he clarified that they would only be his first three checks and not the entirety of his salary.

Return of bitcoin to New York despite the Bitlicense

While it is true that Mayor Adams is an outspoken bitcoiner, he will have to deal with his own state regulators and legislation, to make New York City completely crypto-friendly.

Adams will have to face current regulations to carry out his plan to make New York bitcoin friendly. Source: Wikipedia.

One of these obstacles comes from the so-called Bitlicense or “bitcoin license”, which dates back to 2015. This is a standard, which alienated many companies from the industry who made life in the city, among other things due to the high costs of licenses to operate and because the regulation – according to some, unnecessarily – the personal information of users, as reported by CriptoNoticias.

In that sense, we will have to wait for decisions to be made by the new mayor, while they are made known the conclusions of a citizen consultation made by the New York Department of Financial Services, in 2020, on a relaxation for the Bitlicense.


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