New York City Mayor Eric Adams and Chief Technology Officer Matthew Fraser will host New York City’s first Crypto Summit on Tuesday, May 20, according to the Official Website of the City of New York.
Attendees will include prominent founders, CEOs, and investors from the cryptocurrency, blockchain, and fintech industries to discuss how this growing industry can boost the economy, attract top talent, and inspire innovation in New York City. Those expected to be in attendance manage more than $1 trillion in assets that Mayor Adams wants to bring to New York City.
This event will reinforce Mayor Adams’ forward-thinking leadership on digital financial technologies and comes on the heels of the White House Digital Assets Summit in March.
In 2022, Mayor Adams famously became the first U.S. mayor to have his first three mayoral paychecks converted into Bitcoin and Ethereum. As he said at the time, “New York is the center of the world, and we want it to be the center of cryptocurrency and other financial innovations.”
Throughout his administration, Mayor Adams has championed emerging technologies to build a safer, more affordable city for New Yorkers. He remains committed to growing the city’s economy, attracting new talent, and enabling innovation through the use of digital assets.
New Hampshire is the first U.S. state to establish a crypto reserve, allowing its treasurer to invest up to 5% of public funds in digital assets with a market cap over $500 billion, primarily including Bitcoin.
The new law, HB 302, signed by Governor Kelly Ayotte, aims to diversify the state’s investment portfolio and explore opportunities in the digital asset space.
Here’s a more detailed breakdown:
New Hampshire’s Law:
HB 302 allows the state treasurer to invest up to 5% of public funds in precious metals and digital assets with a market cap exceeding $500 billion.
Digital Asset Focus:
The legislation mentions Bitcoin as a potential investment, as it is the only digital asset currently meeting the market cap criteria.
State Treasurer’s Role:
The state treasurer is responsible for purchasing and holding the digital assets, either through secure custody solutions or exchange-traded products.