Angela Walch, a professor at St. Mary’s
University’s law school, said Adams and other
politicians who have signaled support for
cryptocurrency are trying to attract a wealthy
new political constituency.
“It’s about showing allegiance to this industry,
it’s about saying that we want the industry to
feel welcome and may be to bring jobs,” she said.
Miami Mayor Francis Suarez, a Republican,
has been converting his salary to Bitcoin and
tried to position his city as the hub of the
cryptocurrency industry.
Suarez, a friend of Adams, said in a speech
this month as the new president of the U.S.
Conference of Mayors that cities need to
embrace the industry, and he asked mayors “to
sign on to a mayoral crypto compact.”
Suarez told in an interview in November that
Adams’ embrace of cryptocurrency shows he
understands “cities have to be on the forefront
of innovation.”
A former tax collector for Seminole County,
Florida, set up systems to accept cryptocurrency
for property taxes payments and other fees,
though no payments were ever accepted.