'From a certain angle, it wouldn’t really be that different from Mayor Bill de Blasio asking to get paid in barrels of oil,' reports KevinTDugan
Photo-Illustration: Intelligencer. Photos: Getty Images There’s something of an arms race going on between Eric Adams and his future Miami counterpart, Mayor Francis Suarez — Adams calls it a “friendly competition” — over which big city will be the dominant hub for the emerging cryptocurrency industry.
So when Suarez announced on Twitter that he would take a paycheck entirely in bitcoin, Adams saw the chance for some one-upmanship. “In New York we always go big, so I’m going to take my first THREE paychecks in Bitcoin when I become mayor,” he posted on November 4.
Turns out, that’s complicated. It’s unclear if the city itself could pay Adams in anything other than dollars at the moment. The New York City charter makes it plain that the mayor will be paid a salary of “two hundred fifty-eight thousand seven hundred fifty dollars a year,” and there don’t appear to be any carve-outs for other denominations.
But this could change — and not just for Adams but for all municipal workers. Not only has Suarez proposed paying Miami public employees part of their paycheck in crypto, so has the mayor of Jackson, Tennessee. And the industry has been more than happy to accommodate these plans.
When reached about Adams’s boast, the next mayor’s team walked back the tweet a bit. “He will take his paycheck in dollars and then convert it to bitcoin through an exchange,” said spokesman Evan Thies. There was no word on whether Adams already owns bitcoin — for what it’s worth, there’s no mention of it in his 2020 public disclosures — or if he wants to make it more widely available to city employees.
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