Democratic | Crypto

Mayor Eric Adams criticized Andrew Cuomo’s approach to crypto as New York governor, as voters in the Democratic primary prepare to choose their candidate for the November election. New York City Mayor Eric Adams criticized Democratic mayoral candidate and former Governor Andrew Cuomo as residents prepared to vote in the party’s primary election. Speaking at the Permissionless conference in Brooklyn on Tuesday, Adams said that under Cuomo’s governorship, New York State “dismantled and destroyed the industry,” describing the former governor’s actions as “wrong” and “misguided” on digital assets. The mayor, running for reelection as an independent candidate, said he planned to set up a city council to advocate for crypto policies in state government, and “build out the pipeline” to pay for city services using crypto and by introducing digital asset education in schools. Read more

The proposed bill from Senator Adam Schiff followed similar legislation in the House of Representatives from Maxine Waters in response to the president's memecoin dinner. California Senator Adam Schiff and nine other Democratic lawmakers have introduced legislation to prevent what they called “financial exploitation of digital assets” by the US president and other public officials. In a Monday announcement, Schiff and several Democratic senators said they had introduced the Curbing Officials’ Income and Nondisclosure, or COIN, Act, in response to US President Donald Trump’s connections to the cryptocurrency industry. The proposed legislation followed Trump’s disclosure of $57.4 million in income tied to World Liberty Financial (WLF), the crypto platform backed by members of his family. “President Donald Trump’s cryptocurrency dealings have raised significant ethical, legal and constitutional concerns over his use of the office of the presidency to enrich himself and his family,” said Schiff. “That’s why I am ...