NYC mayor says schools should educate on cryptocurrencies
Newly elected Mayor of New York City Eric Adams once again made headlines amongst crypto-proponents after suggesting that schools should educate students on cryptocurrencies in the latest interview with CNN.
“Cryptocurrency is a new way for paying for goods and services,” Adams remarked. He added:
“We must open our schools to teach the technology, to teach this new way of thinking when it comes down to paying for goods and services.”
Eric Adams of the Democratic party is set to become the next mayor of New York City, after defeating Republican opponent Curtis Sliwa in the election earlier this month. Adams, who is known for his pro-crypto stance, said on November 5 that he will receive the first three months of his salary in Bitcoin.
Adams, who appeared on CNN over the weekend, also commented on the introduction of cryptocurrency payments in the city. He noted, “We are going to look at it, and we are going to tread carefully. We are going to get it right.”
However, Adam’s move on receiving salary in Bitcoin invoked criticism from Jason Furman, a Harvard professor and a former member of the Council of Economic Advisors under the Obama Administration. Calling it a “bad economic strategy” for the New York City, Furman tweeted:
Not only is this a bad economic strategy for NYC and a bad investment decision, it also seems like a conflict of interest.
Like a Mayor announcing “I’m buying a lot of Amazon stock and then going to put in places policies to benefit Amazon.”https://t.co/kuSQ06KVj4
— Jason Furman (@jasonfurman) November 5, 2021
The Federal government of the United States is yet to introduce a framework on cryptocurrencies. It has resulted in many state and local governments promoting crypto usage. For instance, Francis Suarez, the mayor of Miami, Florida, has made major moves in introducing cryptocurrencies to Miami residents.
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OhNoCryptocurrency via https://www.ohnocrypto.com/ @Gauri Bhatia, @Khareem Sudlow
