Billionaire Bill Ackman calls for crypto clarity in New York

Billionaire Bill Ackman calls for crypto clarity in New York

Bill Ackman, a billionaire investor, has asked New York City Mayor to investigate the crypto regulatory clampdowns that are associated with BitLicense.

One New Yorker expressed his disgust on Twitter at the city’s flawed crypto policies and how it could lead him to leave. User lashed out at Bitlicense policy and claimed that he couldn’t open an account on any major US exchange for his venture capital company because of it.

Bitlicense, which regulates crypto issuance and trading, was introduced in 2015. Before starting business, any virtual currency company operating in New York State or managing investments from New York residents must get a license. Some major crypto platforms have been forced to leave due to strict licensing requirements.

Bill Ackman, a billionaire, called on Eric Adams, the newly elected mayor of the city and Kathy Hochul to examine growing regulatory concerns. He suggested that easing regulations and eliminating regulatory obstacles could be the key to making the city a cryptocurrency hub. He stated:

@NYCMayor Let’s fix this immediately. New Yorkers cannot be lost. NY is well on its way towards becoming a crypto-center of innovation. Let’s get rid of the barriers and create new opportunities for growth and innovation to help our state! https://t.co/H9tsG4OO9W
Bill Ackman (@BillAckman), February 9, 2022

Eric Adams, who was elected as Mayor with crypto-based agendas, has been under fire for his advocacy against Bitcoin (BTC). Adams stated that he supports crypto mining but supported cryptocurrency during a hearing on local government budgets in Albany.

Similar: What is a metaphor? NYC’s’solid Gold Cube’ crypto promotion turns out to have been hollow

Many politicians have expressed an interest in crypto over the years. In fact, many politicians who are running for office have made crypto a key issue of their campaigns. But, most of them are using crypto as a tool for campaigning.

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