
PANews reported on May 21 that according to Bitcoin Magazine, at the first crypto summit in New York City on May 20, many attendees called on Mayor Eric Adams to end the BitLicense system, which has been criticized as a "crypto enterprise ban". Adams acknowledged that crypto entrepreneurs had been treated unfairly and reiterated his commitment to making New York the "global crypto capital". Attendees suggested establishing a regulatory sandbox and even transforming New York into a "crypto haven". Galaxy CEO Novogratz also urged the state legislature to advance supportive legislation to promote industry development.




