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Billionaire investor Bill Ackman has asked New York City's mayor to look into the crypto regulatory controls associated with BitLicense.
A New Yorker shared his shock on Twitter about the city's crypto policies and how it could force him to leave him. The user lashed out at the Bitlicense policy of the city and claimed he could not open an account with any major United States exchange for his venture capital firm because of it.
Bitlicense was introduced in 2015 that regulated various aspects related to the issuance and exchange of cryptography. Any virtual currency company operating in New York State or managing such investments with New York residents must be licensed prior to commencing operations. However, the main crypto platforms are concerned, as strict licensing requirements have led some to come out.
Billionaire Bill Ackman called upon newly elected city Mayor Eric Adams and Governor Kathy Hochul to look into the growing regulatory concerns. He emphasized removing regulatory barriers and relaxing regulations could be the key to making the city a crypto hub. He said:
@NYCMayor @GovKathyHochul lets fix this right away. We can no longer lose New Yorkers. Ny is developing into a crypto innovation hub. Let's break down barriers, create opportunities for growth and innovation, and help our state and town! https://t.co/H9tsG4OO9W
— Bill Ackman (@BillAckman) February 9, 2022
Eric Adams, the newly elected Mayor who ran the elections with crypto as the main agenda, has also come under fire recently for advocating against Bitcoin (BTC) mining in the state. During a local government budget hearing with elected representatives at albany, Adams said he supports cryptocurrency but not crypto mining.
Related: A metaphor? NYC 'cube d'or solide' crypto promo is proving to be hollow.
While many politicians over the past couple of years have shown great interest in the crypto industry and many politicians running for an election have made crypto a central agenda of their campaign. But a majority of them appear to be using cryptography as a campaign tool.
