NYC Mayor Promised to Get Paid in Bitcoin. Turns Out That's Not So Easy

Months after declaring that he would take his first three checks in cryptocurrency in an innovative bid to narrow digital and financial divides, New York City Mayor Adams now says federal law is kind of in the way of him keeping his promise.

Adams, then mayor-elect, made the "pay me in Bitcoin" pledge shortly after his November victory. It was in response to a tweet by Miami Mayor Francis Suarez, who said he would take his next paycheck entirely in Bitcoin, aiming to be the first politician to do so.

The New York Democrat sought to up the ante with his "first THREE" paychecks announcement.

On Thursday, though, a day before he's set to receive his first mayoral paycheck, Adams said his first check would automatically be converted to cryptocurrency (Ethereum and Bitcoin) before it gets deposited into his account because federal labor regulations don't allow New York City to pay its employees in cryptocurrency

He still apparently plans to do the same with his next two checks, though his "Pay me in Bitcoin!" declaration now is a bit stunted. It's more like, "Pay me, then convert it to Bitcoin before you put it in my account!" It'll still be crypto, all the same.

Adams will have the funds converted using a secure online exchange platform before they are deposited, his office said.

"New York is the center of the world, and we want it to be the center of cryptocurrency and other financial innovations," Adams said in a statement, referencing the same drive that pushed him to make the pledge in the first place. "Being on the forefront of such innovation will help us create jobs, improve our economy, and continue to be a magnet for talent from all over the globe."