PANews, May 31, reported by Bloomberg, New York City Comptroller Brad Lander has rejected Mayor Eric Adams' proposal to issue Bitcoin-backed municipal bonds. Brad Lander, who oversees the bond issuance alongside the mayor's Office of Management and Budget, stated that New York City will not issue Bitcoin-backed bonds during his tenure. "The stability of cryptocurrency is insufficient to fund our city's infrastructure, affordable housing, or schools." "Proposing to open the city’s capital planning to cryptocurrency could expose our city to new risks and undermine bond buyers' trust in our city." Brad Lander is a Democrat and the successor to Mayor Eric Adams in the November election. Eric Adams is currently running as an independent candidate.
