• New York City Is Getting Its Own Cryptocurrency, with NYCCoin Minting Set to Begin This Wednesday

  • New York City’s mayor-elect, Eric Adams, is moving quickly and boldly to transform the city into a new crypto hub. It appears that the incoming mayor of New York City is aligning his actions and plans to introduce a dedicated city-based token called NYCCoin.

    Last week, New York City Mayor-elect Eric Adams faced off against Miami Mayor Francis Suarez. Adams lauded Miami’s approach to cryptocurrency and its efforts to launch the MiamiCoin.

    In a similar vein, the mayor of New York City intends to launch their own cryptocurrency, NYCCoin. The token will be developed by CityCoins, which operates on the Stacks protocol. CityCoins previously collaborated with the city of Miami to launch its native cryptocurrency.

    The successful launch has also helped Miami City generate $10 million in revenue. Patrick Stanley, a CityCoins community lead, told Bloomberg:

    “We voted on which city should be the next.” “The community decided to activate New York” after Mayor Adams spoke last week.

    Mining for NYCCoin will begin on Wednesday, November 10. “Every 10 minutes, the city earns money just for the existence of NYCCoin,” Stanley explained. The wallet will be filled with Stacks, and they will be able to spend the Stacks or the yield generated by the Stacks.” Mayor-elect Eric Adams praised the latest move and the city’s entry into Web 3.0.

    The Mayor of New York will accept Bitcoin for the first three paychecks (BTC)

    Eric Admas took the crypto world by storm last week with his pro-crypto moves. Adams has joined the list of politicians who have indicated a willingness to accept Bitcoin as payment (BTC). It all started with Miami Mayor Francis Suarez, who declared that he would accept his next paycheck entirely in Bitcoin.

    Going above and beyond, NYC mayor-elect Eric Adams announced that he will accept Bitcoin for the next three paychecks. Furthermore, he promised to turn the city into a crypto hub, creating job opportunities in this thriving industry. Adams told Bloomberg in an interview:

    I’m going to promise you in one year, you’re going to see a different city. We’re going to bring businesses here. We’re going to become the center of life science, the center of cybersecurity, the center of self-driving cars and drones, the center of bitcoins, the center of all the technology.

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