Big news outta the Big Apple! Mayor Eric Adams, speaking at the ongoing Bitcoin confab, just dropped a bombshell: New York City is gonna be the first city worldwide to roll out a Bitcoin-backed bond, dubbed a "BitBond."
Mayor Adams is all-in on this new financial instrument, and get this—he also hinted at ditching the much-maligned New York BitLicense. Talk about a shake-up!
Mayor Eric Adams says Bitcoin will flow in NYC
The Mayor ain't holding back, saying their focus is now on "thinking big and being unafraid of the future." He even urged folks to "come out of the shadows" and get back to the city.
"You no longer have to be afraid to be a part of this major industry that has been attacked, criticized, and denied the opportunity to move forward and grow," he declared.
It's no shocker that Mayor Adams is championing Bitcoin in NYC. The guy's practically famous for his pro-crypto stance, with many even calling him the "Bitcoin Mayor." And hey, the name fits! This charismatic politician famously took his first three paychecks in Bitcoin and Ethereum, showing his true colors for digital currencies.
His administration's also been making waves, aiming to weave crypto into the city's financial fabric. He's been pushing initiatives to make NYC a crypto hotbed, even announcing a digital assets advisory council to pump up the industry in the city.
His speech at the Bitcoin conference is totally in line with his overall mission to create a crypto-friendly vibe. Besides the BitBond plan, he's looking to potentially revisit or even scrap the New York BitLicense, that regulatory framework for crypto businesses in the state.
Mayor Adams announced a new digital assets advisory council for New York City
This BitBond talk from Mayor Adams comes hot on the heels of him and Chief Technology Officer Matthew Fraser hosting NYC's first crypto summit just this month.
The summit drew in top founders, CEOs, and investors from the cryptocurrency, blockchain, and fintech worlds. They all gathered to hash out how the booming crypto industry can give the economy a boost, attract top talent, and spark innovation right here in New York City.
Kicking off the summit, Mayor Eric Adams announced the formation of a digital assets advisory council, designed to bring jobs and investment to the city.
"My goal remains the same as it was day-one as mayor: making New York City the crypto capital of the globe," Mayor Adams stated. "We will be creating a digital asset advisory council to bring big fintech jobs and investment right here to the Big Apple."
He didn't spill all the beans about the council, but he did say the chair and key policy recommendations would be announced in a couple of weeks.
"This is not about chasing memes or trends," Mayor Adams emphasized. "We want to use the technology of tomorrow to better serve New Yorkers today."
KEY Difference Wire helps crypto brands break through and dominate headlines fast