New York City Mayor Announces First Crypto Summit in an Effort to Create “Global Crypto Capital”

According to Decrypt, New York Mayor Eric Adams officially announced on Monday that the first "New York Crypto Summit" will be held on May 20. This is a key step for New York City in the field of digital assets. Adams made it clear at the press conference that his goal is to make New York the "global cryptocurrency capital."The summit will bring together many leaders from the government, business and technology fields to discuss the economic potential, financial inclusion and practical application of blockchain technology and digital assets in the field of public services. Mayor Adams emphasized that New York City should establish a platform to promote the healthy development of the crypto industry, promote technological innovation, and protect the rights and interests of investors.Adams pointed out that blockchain technology has great potential to provide inclusive services to marginalized groups in the traditional financial system, especially in communities with insufficient banking services or high financial barriers. By promoting the rational use of digital assets, New York can make substantial progress in economic fairness.In contrast to short-term speculation and hype in the crypto industry, Adams emphasized that New York is concerned about the "long-term value" of blockchain technology. He made it clear that New York would not pay too much attention to "flash-in-the-pan trends" such as Meme coins, but would instead focus on building a crypto ecosystem centered on technology and oriented toward practical applications.Regarding regulatory policies, Adams holds a "balanced development" stance. He pointed out that effective regulation must find the right boundary between protecting investors and encouraging innovation. "Correct regulation can ensure safety, but excessive regulation may harm industry development - we don't want to see this," he said, calling on New York State to follow New York City's example and create a more open and friendly development environment for blockchain and crypto technology.In recent years, New York has been a global financial center, but it has also faced controversy in the regulation of crypto assets, such as the BitLicense system introduced earlier, which was criticized for restricting innovation. However, after Adams took office, New York City's attitude in the field of digital assets gradually turned to openness. He himself also exchanged part of his salary for Bitcoin and Ethereum in 2022 to show his support for cryptocurrencies.The holding of the first New York Crypto Summit may become an important opportunity for New York City to attract blockchain companies, investors and developers, and it also indicates that this global financial center is striving to take a leading position in the next generation of digital financial landscape.