Today, Mayor Eric Adams of New York City proposed that the state’s crypto industry, Japan’s Financial Services Agency (FSA), could potentially enable exchange sales funds (ETFs), criticised New York Governor Andrew Cuomo, Mayor Andrew Cuomo, to promote rapid change, which is a speed that promotes the speed of 20%, which is a speed that reduces the speed of 20%. Gram Stardom Update for 2026.
New York mayor says former governor Cuomo “destroyed” the crypto industry
New York City Mayor Eric Adams assaulted former governor Andrew Cuomo for his “misplaced” approach to regulating the state’s cryptocurrency.
Speaking at the permit meeting Tuesday, Adams said New York state “dismantled and destroyed” the crypto industry under Cuomo’s leadership, which ranged from 2011 to 2021 resignation.
Cuomo is currently running for mayor of New York City, with a primary election scheduled for the November 4th mayoral election.
Adams appeared as advocates for the state’s procrypt policy and vowed to “build a pipeline” to allow them to pay for urban services through digital assets. When he was elected mayor, he accepted his first three salaries in Bitcoin (BTC) and Ether (ETH).
Earlier this year, Adams’ push for Bitcoin secured bonds was rejected by Director Brad Lander, who called the plan “legally questionable and financially irresponsible.”
Japan proposes reclassification of encryption, paving methods for ETFs and lowering taxes
Japan’s FSA has proposed a drastic reclassification of cryptocurrencies that clears the path to launching funds (ETFs) traded on cryptocurrencies and introduces a flat 20% tax on digital asset revenue.
The proposal, introduced on Tuesday, suggests that crypto would be recognized as a “financial instrument” under the scope of the Financial Instruments Exchange Act (FIEA), the same regulatory framework that governs securities and traditional financial instruments.
The proposed reclassification could shift Japan’s current progressive tax system. This means that crypto taxes at a rate of up to 55%, and taxes a uniform 20%, reflecting the handling of stocks. That change could make Crypto investments more attractive to both retail and institutional players.
The proposed shift is part of the Japanese government’s broader “new capitalist” strategy, seeking to position the country as an investment-driven economy.
This move comes amid growing interest in crypto as a legitimate investment asset. According to the FSA, as of January 2025, more than 12 million domestic crypto accounts were active, with the platform holding over 5 trillion yen (approximately $34 billion).
In the proposal, the FAS revealed that ownership of Crypto is now outweighing participation in several traditional financial instruments, such as forex and corporate bonds, particularly among tech-savvy retail investors.
The proposal also addresses a surge in institutional involvement around the world. The FSA cited data showing more than 1,200 financial institutions, including the US Pension Fund and Goldman Sachs.
Japanese regulators aim to support similar developments domestically, particularly as global funds flow into crypto.
Ethereum Dev floats slot time up to 6 seconds, doubles blocks
The Ethereum developers have issued a proposal that suggests reducing network block time by 12 seconds to 6 seconds, with the aim of improving transaction check times and user experience.
Discussed on June 21 by core developer Barnabé Monnot, the Ethereum Improvement Proposal 7782 suggests that by adjusting the timing of various blockchain operations, slot times (the frequency at which new blocks are created) will be reduced to 6 seconds.
“Lower slot times will improve confirmation services and potentially raise service prices beyond their current location,” explained Monot, referring to the economic value that the network can capture to provide core services as a settlement and confirmation layer.
The developers are seeking the proposal originally created in October 2024, and are included in the Gramsterdam update scheduled for later 2026.
