With New York City Mayor Eric Adams accepting his first 3 paychecks in cryptocurrency he has clearly recognized that this is the wave of the future if New York is to remain the financial capital of the world, in keeping with that, Gotham Ventures has partnered with Oz Sultan and Kyra Schaefer to launch NYBCA
New York, NY— The New York Blockchain and Crypto Association Inc., (“NYBCA”) is a non-profit trade organization focused on the education and promotion of blockchain-inspired technologies and crypto to key decision-makers and the general public. Through our community, we have held, and plan to hold, numerous events bringing the best in the industry to educate and direct the general public on the advantages of this revolutionary technology.
NYBCA was formed in order to provide a single voice for reputable leaders within the blockchain and cryptocurrency industry operating within the greater New York area intent on capturing the synergies of operating in one of the world’s greatest media and financial marketplaces.
Blockchain networks and cryptocurrencies are proving to have transformative applications in all manner of use cases never originally envisioned. NYBCA intends to represent the prime movers that are advancing these disruptive technologies in ways that bring value to the marketplace. To accomplish this, NYBCA will:
– Reform and target New York’s BitLicense. A business must obtain a BitLicense if it engages in Virtual Currency Business Activity involving New York State or any person that resides, is located, has a place of business, or is conducting business in New York State. NYBCA will be looking to its membership, other industry actors, and examples of cryptocurrency-friendly havens to encourage the formulation of a licensing structure that meets a State’s declared goal of making it easier for start-ups to enter the New York market. NYCBA also wishes to explore a carve-out for cities with populations of over one million inhabitants to designate certain areas as license-exempt, conterminous with designated enterprise or empowerment zones.
– NYBCA will also promote legislation aimed at providing resources and tools to New York’s Empire State Development Corporation, as well as other regional public benefit development corporations throughout the state, with an economic development mission to help them attract companies that harness blockchain technology by providing a plethora of incentives, including tax incentives and abatements, incubator space, and enriched incentives, if these companies locate in a designated enterprise of empowerment zones.
– educate key constituencies about how blockchain technology can bring about a more secure, private, and competitive digital marketplace in the United States’ financial capital.
– advocate for regulatory clarity and relief so that New York becomes the leader in blockchain and crypto innovation.
– engage with industry, government, media, and aligned groups to augment our message and effectuate meaningful reforms to position New York for the future.
Our goal is to improve the public policy environment in all levels of New York government including, but not limited to, Albany and NYC so that blockchain networks can thrive in New York State. We want to guide regulators and lawmakers to strike the right balance between consumer protection and security concerns while setting the stage for stability, growth, and wider implementation. We’re dedicated to fostering a dialogue between our industry and government to share knowledge, identify opportunities, and create an ecosystem that’s transparent, secure, and respects society’s desire for greater equity and greater community.
“Cryptocurrencies that fuel and power these networks, including other digital assets that run on decentralized public blockchains, offer a means of transferring and storing value while capturing all manner of synergies, as well as alternative asset capacity,” said Founding Partner Bradley Gerstman, Esq. “New York is the financial capital of the world, and if it plans on holding onto this laurel, it simply must find a way to attract and sustain this asset class in a manner that does not kill the golden goose. NYBCA’s membership will help us make that case to lawmakers and regulators.”
“NYBCA is made up of the best and brightest disruptors and innovators advocating for the innovation and collaboration necessary to support this industry and make New York the leader in this economic and technological revolution” said NYBCA Executive Director Oz Sultan. “In addition, we’re currently looking to hire 15 college students and young professionals to assist NYBCA in fulfilling its mission.”
“It’s clear that despite its best intentions for myriad reasons, New York State’s cryptocurrency licensing regime has failed to meet its full potential,” said NYBCA Board Member Kyra Schaefer. “NYBCA will be looking to its membership, other industry actors, and examples of cryptocurrency-friendly havens to encourage the formulation of a licensing structure that meets State’s declared goal of making it easier for start-ups to enter the New York market.”
“We’re excited to be at the forefront promoting legislation aimed at harnessing blockchain technology as a means to stimulate growth, create jobs, and diversify the NY State economy, and establish a welcoming business environment for technology and blockchain companies,” said NYBCA Board Member Randy Kleinman, Esq. “Other states, from Rhode Island to Wyoming, have proposed legislation to create a regulatory environment to enable innovators to develop the next generation of digital products and services, and to help their states compete in the 21st century economy. New York can do no less.”
“We’re engaging with key decisionmakers to determine whether there is a pathway toward capturing the enormous wealth-generating potential, and incredible revenue enhancement opportunity, represented by cryptocurrency mining in New York State,” said NYBCA Board Member Nicole Epstein, Esq. “NYBCA wants to facilitate a dialogue to determine what is best for New York, while factoring in the bigger picture, including environmental tradeoffs kindred to the public policy goals undergirding carbon tax credits. NYBCA wants to facilitate this conversation and we’re excited to get started.”
For more information, please visit https://www.ny-bca.org/ and http://gothamgr.com/abilities/gotham-ventures/