Adams has reportedly pledged to correct his annual financial disclosure form filed with the Conflicts of Interest Board, after failing to report his cryptocurrency holdings.
Adams' pro-crypto platform was part of the politician's efforts to give Miami a run for its money as one of the country's top destinations for industry enthusiasts.
Miami mayor Francis Suarez's progressive crypto policies drew start-ups, venture firms, and crypto exchanges to Florida during the pandemic. Meanwhile, lawmakers in New York have enacted some of the country's most stringent and restrictive rules on the crypto industry.of $71,321 at the end of 2022, according to documents obtained by The Miami Herald via the county elections department.
It is unclear whether Suarez converted some of his crypto holdings into fiat cash, since his annual salary is $130,000, or whether his mayoral income dwindled due to bear market pricing. CNBC reached out to Suarez's team but did not immediately hear back.
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