New York City Mayor Eric Adams says that he will make Big Apple a Digital Advisory Council to attract jobs and investment and place it as “Crypto Capital of Globe”.
“It’s not about chasing memes or trends,” Adams told the New York City Crypto Summit on 20 May. “We want to use tomorrow’s technology for better service to New Yorkers today.”
He said, “We have experts here, and they are going to help us navigate the solutions serving our city.” “The age of tokens, including crypto and blockchain and other fintech innovations, is here, and we are going to continue moving with it.”
Adams did not share much information on the advisory group, but said that the chairman and major policy recommendations of a council would follow in the next few weeks.
We are taking the next steps in becoming the world’s crypto capital, hosting the first crypto and digital assets summit of our city! Like -As we start, join us: https://t.co/iwo6thkasb
– Mayor Eric Adams (@nycmayor) May 20, 2025
On 12 May, Adams announced the financial services company Figure and Private Equity Firms and the scale would assist the city in its crypto efforts.
The city of New York must also be discovering whether some services and taxes can be paid through Crypto, according to Adams, with using blockchain tech to manage sensitive information such as birth certificate and death records.
Adams said, “Bringing blockchain security capabilities into the city means that the birth certificate and death records can remain accessible to private but new Yorkers and their next family.”
He said, “We want to bring future jobs in our city today. This means to support the development of more diverse, equitable, inclusive technical ecosystems. We should embrace this emerging technology and build on the success of our economy,” he said.
Crypto law proposed in New York
The MPs of New York State have already introduced several bills to regulate Crypto. In April, the assemblyman Clide Venon introduced a bill to amend the state’s financial law to allow New York state agencies to accept crypto as payment.
However, the law remains to reach the full house or Senate of the state.
New York State Senator James Sanders Junior proposed the Blockchain Study Act in February, which will build a Crypto Task Force to investigate the current status of Crypto in the state. It is yet to pursue the past of the house.
Connected: Wintermute opened the New York office, citing better American crypto rules
Adams, after holding office in January 2022, made digital assets a large part of its policy platform and announced a plan to accept their first three pachecs in Bitcoin (BTC).
He was accused of allegations of corruption on alleged illegal donations from the Turkish government, but the officials of the Department of Justice stepped into and directed the local authorities to intervene. The case was rejected with prejudice on 2 April, which means that it cannot be reopened.
The increasing number of American states is also working on the crypto-related law, considering bills to establish a strategic bitcoin reserve at least 18. According to Bitcoin Reserve Monitor, two states, New Hampshire and Arizona have successfully passed the law.
magazine: Crypto City: Guide to New York
