New York City’s mayor-elect says he wants to be paid in Bitcoin

Illustration by James Bareham / The Verge

New York City’s mayor-elect Eric Adams said in a tweet Thursday that he wants his first three city paychecks paid in Bitcoin, in a bid to show up the mayor of Miami and indicate his hopes that New York will be a place where the cryptocurrency industry is welcome.

To put it lightly, the feasibility of Adams actually getting paid in Bitcoin seems dicey. (Is the city’s payroll even set up for that? How will this work with the fluctuating price of Bitcoin? My goodness, what’s the tax situation going to be like?) Whether it actually happens or not, though, he’s sending a clear message about his intended plans as a mayor — you probably wouldn’t say something like that if you’re going to ignore cryptocurrency and Bitcoin completely.

In New…

Continue reading…

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Generated by Feedzy