Billionaire investor Bill Ackman has urged the Mayor of New York to look into cryptocurrency regulatory restrictions related to BitLicense.
The New Yorker tweeted his horror at the city’s misguided cryptocurrency policy and how it could force him to leave. The user criticized the city’s Bitlicense policy and stated that because of this, he cannot open an account on any major US exchange for his venture capital firm.
Bitlicense was introduced in 2015 and regulated various aspects related to the issuance and exchange of cryptocurrencies. Any virtual currency business operating in New York State or managing such investments by New Yorkers must obtain a license prior to operating. However, major cryptocurrency platforms are concerned that strict licensing requirements have caused some to leave.
Billionaire Bill Ackman has urged newly elected Mayor Eric Adams and Gov. Kathy Hochul to deal with growing regulatory issues. He stressed that removing regulatory barriers and easing rules could be the key to turning the city into a crypto hub. He said:
@NYCMayor @GovKathyHochul let’s fix this right now. We can’t lose any more New Yorkers. New York is on its way to becoming a center of innovation in the crypto space. Remove barriers, create opportunities for growth and innovation, and help our state and city! https://t.co/H9tsG4OO9W — Bill Ekman (@BillAckman) February 9, 2022
Eric Adams, the newly elected mayor who ran the election with crypto as the main agenda, has also recently come under fire for advocating against Bitcoin (BTC) mining in the state. During local government budget hearings with elected officials in Albany, Adams said he supports crypto, but not crypto mining.
Related: Metaphor? NYC ‘solid gold cube’ cryptocurrency promotion turned out empty
While many politicians over the past couple of years have shown a strong interest in the cryptocurrency industry, many politicians running for office have made cryptocurrencies the centerpiece of their campaign agenda. However, most of them seem to only use cryptocurrency as a campaign tool.
Billionaire investor Bill Ackman has urged the Mayor of New York to look into cryptocurrency regulatory restrictions related to BitLicense.
The New Yorker tweeted his horror at the city’s misguided cryptocurrency policy and how it could force him to leave. The user criticized the city’s Bitlicense policy and stated that because of this, he cannot open an account on any major US exchange for his venture capital firm.
Bitlicense was introduced in 2015 and regulated various aspects related to the issuance and exchange of cryptocurrencies. Any virtual currency business operating in New York State or managing such investments by New Yorkers must obtain a license prior to operating. However, major cryptocurrency platforms are concerned that strict licensing requirements have caused some to leave.
Billionaire Bill Ackman has urged newly elected Mayor Eric Adams and Gov. Kathy Hochul to deal with growing regulatory issues. He stressed that removing regulatory barriers and easing rules could be the key to turning the city into a crypto hub. He said:
@NYCMayor @GovKathyHochul let’s fix this right now. We can’t lose any more New Yorkers. New York is on its way to becoming a center of innovation in the crypto space. Remove barriers, create opportunities for growth and innovation, and help our state and city! https://t.co/H9tsG4OO9W — Bill Ekman (@BillAckman) February 9, 2022
Eric Adams, the newly elected mayor who ran the election with crypto as the main agenda, has also recently come under fire for advocating against Bitcoin (BTC) mining in the state. During local government budget hearings with elected officials in Albany, Adams said he supports crypto, but not crypto mining.
Related: Metaphor? NYC ‘solid gold cube’ cryptocurrency promotion turned out empty
While many politicians over the past couple of years have shown a strong interest in the cryptocurrency industry, many politicians running for office have made cryptocurrencies the centerpiece of their campaign agenda. However, most of them seem to only use cryptocurrency as a campaign tool.
