Imagine a thing just for you but having restrictions for usage. The same goes for cryptocurrencies and the people of New York. It was for them, but they may be locked out from its use. As hard as it seems, they only have the permit to mint the coins but not in anything further without the license.
The city Mayor Eric Adams seems to have a vital role in the changing rules for the general public. He stands high to make the space the next hub of cryptocurrency. He makes out the best way to contribute to the city’s growth.
With no official affiliation with the city of personalized tokens, he offers a crypto wallet that holds the money just for New York. Further, shortly, the contributors are sure to benefit from their work of appreciation.
The cryptos in use make use of the stacks protocol to enable a smart contract for the bitcoins. It allows the New Yorkers to invest in the minting process to grab the coins. Further, the protocol of the exchange markets of the city bars the people from any further transactions. It stops them from buying and selling the coins they mint, as every exchange space demands a BitLicense. It gives the right to an individual to trade NYCCoin.
In contrast to the situation of New York, the people of Miami come with their MiamiCoin with the ability to mint and trade the coin they forge. It comes with the same motive also allows the growth of people and the city together.
Developing the protocol in 2015, the BitLicense is one of the harshest regulations. It walks to hinder the personal choice of an individual. With no answers to the people’s requests and needs by the officials, the New York government is still looking to make the best model for its people.
With increasing time and hope for the best, the officials must look to the Miami model for the best perks. The value of the coins and the demands in New York are decreasing rapidly due to the policy. It is high time, and the officials must look into it for a change.
Cryptocurrencies are at a peak, and everyone is adopting them for an investment. The officials must find ways to open the door for the trade. Crypto coins belong to an individual who mints them with expertise. Hence the usage must always be up to them!
Disclaimer: Cryptogurukul has no relationship to these projects, and there is no endorsement or investment advise. Please seek professional advice before taking financial risks.