NYC mayor just gave a burn to the crypto regulatory bodies - he didn’t disclose his crypto holdings as he believed he only had to report securities

NYC mayor Eric Adams is in a bit of hot water and has had to pledge to update his annual financial disclosure form to include his crypto holdings.

The problem arose when the form asked whether he held any security, including stocks, bonds, ETFs, mutual funds, or cryptocurrencies with a market value of $1,000 or more, and the mayor responded "no" in his initial filing of the annual form. The Conflict of Interest Board called this out, as he didn’t report his crypto stakes. Since then he’s had to issue a statement - a spokesman for the mayor yesterday indicated he misunderstood the question and believed it only referred to securities. Seems as though he just gave a politically awesome burn to the SEC and crypto regulatory bodies with that statement, the same day as the ruling that XRP is not a security. Well played.

TLDR: NYC mayor stated he didn’t disclose his crypto holdings, because he thought he had to only disclose any securities he held. Feel the burn.