Potential NYC mayor could impact city's crypto policies
From Cointelegraph
June 27, 2025 5:49 pm:
Zohran Mamdani, the Democratic Party candidate for New York City mayor, won the Democratic primary with 43.5% of the vote, defeating former Governor Andrew Cuomo. Major candidates, including current Mayor Eric Adams, have shown support for the cryptocurrency industry, except for Mamdani. Curtis Sliwa, a Republican candidate, also ran on a pro-crypto platform in 2021.
Cuomo advised cryptocurrency exchange OKX in 2021 while US authorities were investigating the company for operating an unlicensed money-transmitting business. The exchange ended up paying $505 million in fines and penalties. Mamdani publicly criticized Cuomo’s involvement with the exchange, drawing attention to the issue. Mamdani has faced opposition from prominent figures in the crypto industry, including Gemini co-founder Cameron Winklevoss and hedge fund manager Bill Ackman.
The winner of the November election for NYC mayor could have a significant impact on the city’s crypto policies. New York City is home to several crypto firms, including stablecoin issuers Paxos and Circle, cryptocurrency exchange Gemini, and payments company MoonPay. The city’s policies can influence the broader crypto industry, with potential changes to the state’s BitLicense program and regulatory environment.
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