August 12, 2022

Andrew Yang says he’ll transform NYC into a Bitcoin hub if elected mayor

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Andrew Yang, the Democratic Party front-runner in the race to be New York’s next mayor said he would transform New York City into “a hub for BTC and other cryptocurrencies” noting the city to be “the world’s financial capital.”

The former presidential candidate made the comment in a tweet earlier today which drew a flurry of mixed reactions, with some proclaiming it to be a campaign-selling maneuver and others equating it to political suicide.

The most unifying reaction, however, was the demand that Yang use his powers, if elected, to end the BitLicense, enacted by the New York Department of Financial Services. Meltem Demirors, CSO of digital assets management company CoinShares, suggested Yang would need to deal with bo high state taxes and the Bitlicense to make his plan a reality.

no one wants to pay NYC’s absurd taxes + the tax of the NYDFS bitlicense

unless there’s a plan to cut the city budget drastically, i don’t see how any crypto company wants to operate in an environment with high income, corporate, and real estate taxes + sales tax on top

— Meltem Demirors (@Melt_Dem) February 11, 2021

In a recent interview with Forbes,Title: Andrew Yang says he’ll transform NYC into a Bitcoin hub if elected mayor
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Published Date: Fri, 12 Feb 2021 02:02:29 +0000