PANews reported on May 13 that according to Decrypt, New York City Mayor Eric Adams announced on Monday that the first New York Crypto Summit will be held on May 20, vowing to make New York the "global cryptocurrency capital". Adams stated at the press conference that blockchain technology can provide inclusive financial services to communities outside the traditional financial system, and New York is becoming the most important crypto innovation center outside Silicon Valley. The summit aims to build a platform for dialogue between government and business, gathering industry leaders to discuss the application of digital assets in economic development and public services. Adams emphasized that New York focuses on the long-term value of blockchain technology rather than short-term speculation, and advocates for a regulatory framework that protects investors without stifling innovation. Adams stressed that the city will be committed to cryptocurrencies in the long term and is not interested in fleeting trends like meme coins. Adams said that while the crypto industry believes widespread adoption is inevitable, he emphasized the need for balanced regulation that is strong enough to protect investors but not so strict as to hinder innovation and growth. He said: "Our state should embrace a crypto and blockchain-friendly environment like New York City. The right regulation can ensure safety, but over-regulation could harm the industry - we don't want that to happen."
