New York Mayor Eric Adams intensified his efforts to establish New York City as a leading cryptocurrency hub on Wednesday, advocating for a city-issued Bitcoin Bond and the elimination of the state’s contentious BitLicense requirement.
Speaking at the Bitcoin 2025 conference, Adams declared, “New York is the Empire State. We don’t break empires—we build empires. We’re saying to you: come back home.” He added, “Let’s get rid of the Bitcoin license and allow us to have the free flow of Bitcoin in our city.”
This push follows the inaugural New York Crypto Summit last week, where Mayor Adams announced a digital assets advisory council aimed at attracting jobs and investment to the city.
The BitLicense, introduced in 2015, is a legal requirement for businesses dealing in cryptocurrency within New York, designed to regulate the industry and protect consumers. Critics argue its strict compliance standards and high costs (ranging from $5,000 to over $100,000) deter crypto firms.
Adams, who famously received his first mayoral paychecks in Bitcoin and Ethereum, reiterated his commitment to fostering innovation and making New York a thriving environment for crypto investors and developers. He urged the crypto community to engage with lawmakers and actively defend the industry, envisioning Bitcoin and blockchain used for birth certificates, fine payments, and taxes in the city.
