Mayor Adams to Receive First Paycheck in Cryptocurrency | City of New York

Gunnar Larson g at xny.io
Thu May 11 05:02:36 PDT 2023


Our Coinbase FOIL records are still delayed. Seems suspicious.

Makes xNY.io look even more interesting and impressive given the $100M
compliance deal...

----

https://www.nyc.gov/office-of-the-mayor/news/041-22/mayor-adams-receive-first-paycheck-cryptocurrency


Mayor Adams to Receive First Paycheck in Cryptocurrency
January 20, 2022

Paycheck to Be Automatically Converted Into Bitcoin and Ethereum

NEW YORK – New York City Mayor Eric Adams today announced that his first
paycheck — which arrives tomorrow — will be automatically converted into
cryptocurrency, as previously promised. The salary will be converted to
Ethereum and Bitcoin.

“New York is the center of the world, and we want it to be the center of
cryptocurrency and other financial innovations,” said Mayor Adams. “Being
on the forefront of such innovation will help us create jobs, improve our
economy, and continue to be a magnet for talent from all over the globe.”

“From being the primary means by which we close both the digital and
financial divide, technology continues to be the great equalizer, said New
York City Chief Technology Officer Matt Fraser. “This step taken by the
mayor provides a leading example of how we can empower people through tech
with a more diverse set of options to manage their finances.”

Before funds are made available, Mayor Adams’ first paycheck will
automatically be converted into cryptocurrency via Coinbase, a secure
online platform for buying, selling, transferring, and storing digital
currency.

Last November, Mayor Adams announced he would accept his first three
paychecks in cryptocurrency. Due to U.S. Department of Labor regulations,
New York City cannot pay employees in cryptocurrency. By using a
cryptocurrency exchange, anyone paid in U.S. dollars can have funds
converted into cryptocurrency before funds are deposited into their account.

Cryptocurrencies are at the forefront of Web3innovations and can bring
greater accessibility to financial services.
-------------- next part --------------
A non-text attachment was scrubbed...
Name: not available
Type: text/html
Size: 2675 bytes
Desc: not available
URL: <https://lists.cpunks.org/pipermail/cypherpunks/attachments/20230511/97a14c5f/attachment.txt>


More information about the cypherpunks mailing list