[OpenRecords] Request FOIL-2023-836-00688 Closed - Mayor Eric Adams and Bitcoin

[Gunnar Larson]

Dear Department of Finance (DOF):

xNY.io - Bank.org kindly elects to appeal this response.

xNY.io - Bank.org aims to understand if DOF is suggesting no New York City
records are available. Or, if DOF has redacted in part or withheld due
diligence records in entirety concerning "Mayor Adams to Receive First
Paycheck in Cryptocurrency... Paycheck to Be Automatically Converted Into
Bitcoin and Ethereum" quoted by NYC.gov.

>From our research, there are several New York City records available. For
example:
https://www.nyc.gov/office-of-the-mayor/news/041-22/mayor-adams-receive-first-paycheck-cryptocurrency

Furthermore, New York City's press office has said "Cryptocurrencies are at
the forefront of Web3innovations and can bring greater accessibility to
financial services."

Mayor Eric Adams also touted New York City's approach to digital asset
innovation on Bloomberg radio:
https://www.bloomberg.com/news/articles/2021-11-03/mayor-elect-eric-adams-to-explore-nyc-coin-similar-to-miami-s?embedded-checkout=true

According to Bloomberg, "New York City Mayor-Elect Eric Adams said he
wanted to turn New York into a crypto-friendly city and wagered a “friendly
competition” with the mayor of Miami, who was the first to set up a
so-called CityCoin cryptocurrency.

“He has a MiamiCoin that is doing very well -- we’re going to look in the
direction to carry that out,” Adams said in a Wednesday interview on
Bloomberg Radio. He vowed to “look at what’s preventing the growth of
Bitcoin...""

As a matter of urgency, xNY.io - Bank.org kindly requests DOF's response by
December 31, 2023.

Warm regards,

Gunnar

Gunnar Larson
--
Gunnar Larson - xNY.io - Bank.org
MSc - Digital Currency
MBA - Entrepreneurship and Innovation (ip)

G at xNY.io
+1-917-580-8053
New York, New York 10001



On Fri, Dec 15, 2023, 12:23 PM <donotreply at records.nyc.gov> wrote:

> The Department of Finance (DOF) has *closed* your FOIL request
> FOIL-2023-836-00688
> <https://a860-openrecords.nyc.gov/request/view/FOIL-2023-836-00688> for
> the following reasons:
>
>    - A diligent search for records responsive to your request did not
>    locate any such records. Accordingly, your request is denied.
>
>
>
> You may appeal the decision to deny access to material that was redacted
> in part or withheld in entirety by contacting the agency's FOIL Appeals
> Officer: foilappeals at finance.nyc.gov
> <foilappeals at finance.nyc.gov?subject=FOIL-2023-836-00688%20-%20Appeal>
> within 30 days.
>

Please find the attached memo with reference footnotes.

--

March 10, 2023

BY ELECTRONIC MAIL


Ms. Camille Joseph Varlack
Office of the Mayor of New York City
City Hall Park, 260 Broadway
New York, NY 10007 United States
PressOffice at CityHall.NYC.gov

Re: Mayor Eric Adams NYCCoin Touting

Dear Ms. Joseph Varlack:

Today’s memo is to kindly submit xNY.io - Bank.org's inquiry into Mayor
Eric Adams' promotion of NYCCoin.


The federal securities laws are clear that any celebrity or individual who
promotes digital assets must disclose the nature, source and amount of
compensation they received in exchange for the promotion.

As a matter of ethics, risk and compliance associated with digital asset
innovation, xNY.io asks if NYCCoin promotion by the Mayor of New York City
damaged the market for the xNY digital asset (by, for example, devaluing it
through parody or sealed via embossed criticism).

xNY.io - Bank.org concerns made above have evidentiary support to
interlocking director and officer conflicts recognized by the Department of
Justice as potential threats that stifle individual and corporate freedom.


Ms. Joseph Varlack, as a matter relating to working at one of the world's
most ethical companies, famous for risk management and corporate
governance, and as an internationally recognized Blockchain Scholar, I must
adhere to federal securities laws.


As such, I classify Mayor Adams as an individual who promoted the digital
asset NYCCoin and must disclose the nature, scope, and amount of
compensation associated.


A failure to disclose this information may violate the anti-touting
provisions of the federal securities laws. Mayor Adams' making these
endorsements may also be liable for potential violations of the anti-fraud
provisions of the federal securities laws, for participating in an
unregistered offer and sale of securities, and for acting as unregistered
brokers.


xNY.io - Bank.org respectfully requests the Office of the Mayor of New York
City to respond to this request by Wednesday March, 15 2023 by Noon EST.


Respectfully yours with appreciation,


Gunnar Larson - xNY.io - Bank.org
MSc - Digital Currency
MBA - Entrepreneurship and Innovation (ip)
G at xNY.io +1-917-580-8053

---------- Forwarded message ---------
From: <donotreply at records.nyc.gov>
Date: Fri, Jul 21, 2023, 10:22 AM
Subject: [OpenRecords] Request FOIL-2023-836-00688 Acknowledged
To: <g at xny.io>


The Department of Finance (DOF) has acknowledged your FOIL request
FOIL-2023-836-00688.

You can expect a response on or about Tuesday, October 17, 2023.

Additional Information:
Hello, we are extending your request because our office needs more time to
fulfill your request. We are finding and reviewing your requested records
and you should hear from us by the date indicated above. We appreciate your
patience as we subject each page of each record to legal review while
processing other FOIL requests.Thank you for your continued patience.

Please visit FOIL-2023-836-00688 to view additional information and take
any necessary action.

Your request FOIL-2023-836-00688 has been successfully submitted to the
Department of Finance (DOF). The details of your request are shown below.
Request Title: Mayor Eric Adams and Bitcoin

Request Description: Dear Madam or Sir: Mayor Adams announced paychecks
will automatically be converted into cryptocurrency via Coinbase, a secure
online platform for buying, selling, transferring, and storing digital
currency.
https://www.nyc.gov/office-of-the-mayor/news/041-22/mayor-adams-receive-first-paycheck-cryptocurrency
xNY.io kindly requests access to records concerning the payment structure
related to this payment vehicle. Additionally, we would like any records
concerning the City’s due diligence of the online payment platform's
compliance to New York State investigation. Thank you, Gunnar Larson
917-580-8053

Requester's Contact Information

Name:
Gunnar Larson
Title:
Not provided
Organization:
Not provided
Email:
g at xny.io
Phone Number:
Not provided
Fax Number:
Not provided
Street Address (line 1):
406 West 25th Street
Street Address (line 2):
Not provided
City:
New York
State:
NY
Zip Code:
10001
You can view the request and take any necessary action at the following
webpage: https://a860-openrecords.nyc.gov/request/view/FOIL-2023-836-00688
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