Bill Ackman Wants Removal of Barriers to Enter Crypto Exchanges in New York

Pershing Square Capital Management founder Bill Ackman has called on New York officials to ease entry restrictions of crypto exchanges in the state, Bloomberg reported.

Ackman in a Twitter post called on New York Governor Kathy Hochul and City Mayor Eric Adams to address restrictions making it hard for New Yorkers to register with major cryptocurrency exchanges.

@NYCMayor @GovKathyHochul lets fix this right away. We can’t lose any more New Yorkers. NY is on its way to becoming a crypto center of innovation. Let’s remove barriers, create opportunities for growth and innovation, and help our state and city! https://t.co/H9tsG4OO9W

— Bill Ackman (@BillAckman) February 9, 2022

Ackman said the state cannot afford to lose more of its residents seeking to enter the crypto space, as it seeks to become a center of innovation for the industry. He pushed for the removal of barriers, and the creation of growth opportunities.

The tweet was made in response to a separate tweet indicating the difficulties faced by a New Yorker who runs a cryptocurrency fund but cannot open an account with US crypto exchanges due to his residence.

The Twitter user described the Bitlicense as an “absolute abomination” and “embarrassment.” BTC is down 0.43%, ETH down 1.55%, and XRP down 3.66%.