According to the source, Zohran Mamdani is reported to have won the New York City mayoral race, while his position on cryptocurrency remains unstated by the campaign. Official certification of results is handled by the New York City Board of Elections, so traders should await certification before pricing policy implications, per the New York City Board of Elections. New York’s virtual currency licensing and supervision are set at the state level under the NYDFS BitLicense framework rather than by the NYC mayor, per the New York State Department of Financial Services. Given that authority resides with NYDFS, direct regulatory impact on crypto exchanges and stablecoin issuers operating in New York is unlikely to change absent NYDFS action, per the New York State Department of Financial Services. Monitor for any policy signals from the NYC Mayor’s Office and regulatory notices from NYDFS for trading-relevant updates, per the NYC Mayor’s Office and the New York State Department of Financial Services.

According to the source, a social media post claims NYDFS Superintendent Adrienne Harris is stepping down after four years at the agency; this information is not independently verified by an NYDFS press release that this assistant can cite. Source: user-provided social media post.

According to Eleanor Terrett, MoonPay has officially secured the coveted New York BitLicense, a regulatory milestone that enables the firm to expand crypto onramp services in one of the most strictly regulated states (source: Eleanor Terrett on Twitter, June 4, 2025; cryptoinamerica.com). This development is likely to boost user confidence and trading volume for MoonPay as institutional and retail traders gain easier access to cryptocurrencies. Additionally, Congress is holding hearings today on the updated crypto market structure bill, which is expected to shape future U.S. digital asset regulations. Traders should closely monitor regulatory changes, as these events could influence liquidity, compliance requirements, and price action for major cryptocurrencies.