New York City is poised to enter a new era in technology and finance as Mayor Eric Adams announces the launch of a digital advisory council aimed at positioning the city as the “crypto capital of the globe.” Speaking at the inaugural New York City Crypto Summit held on May 20, 2025, Adams emphasized the importance of leveraging emerging technologies to better serve residents and attract investment to the city.
“This is not about chasing memes or trends,” Adams stated, reiterating his goal of fostering innovation through technological advancements. “We want to use the technology of tomorrow to better serve New Yorkers today.” The mayor highlighted that local experts will be instrumental in navigating solutions that transform the city into a beacon of economic opportunity in the world of cryptocurrencies and blockchain technology.
In his address, Adams affirmed that further details regarding the advisory council, including a designated chair and key policy recommendations, will be unveiled in the coming weeks. This initiative is part of a broader strategy to explore how cryptocurrency can be integrated into city operations, potentially allowing certain services and even taxes to be paid through digital currencies.
Mayor Adams has set forth a vision that intertwines traditional governance with cutting-edge blockchain technology. He suggested leveraging blockchain for managing sensitive information, allowing for enhanced privacy and accessibility concerning vital records like birth certificates and death records. This initiative aims to provide security while maintaining accessibility for New Yorkers and their families.
Adams further stated, “We want to bring jobs of the future to our city today. That means supporting the development of a more diverse, equitable, inclusive tech ecosystem. Embracing this emerging technology is key to building on the success of our economy.” As this technology evolves, the potential for creating new job opportunities in New York City’s tech landscape expands significantly.
As Mayor Adams champions this crypto initiative, New York State lawmakers have been active in proposing legislation to regulate digital currencies. Notably, Assemblyman Clyde Vanel introduced a bill in April aimed at amending state financial laws to allow for crypto payments by New York State agencies. Meanwhile, Senator James Sanders Jr. proposed the Blockchain Study Act, which seeks to establish a task force to conduct investigations into the current state of cryptocurrencies in the state.
The evolving landscape of cryptocurrency legislation in New York signifies a response to the growing demand for clearer regulatory frameworks amidst increasing adoption across various sectors. Additionally, as states across the U.S. rush to establish strategic Bitcoin reserves, New York is positioning itself as a leader in this growing field.
Since taking office in January 2022, Adams has made digital assets a cornerstone of his policy platform. He even announced plans to accept his first three paychecks in Bitcoin as a way to promote cryptocurrency adoption. These actions align with his commitment to modernizing city services while attracting new businesses and tech talent to New York.
The crypto movement in New York City is gaining momentum, and with the launch of the advisory council, the city aims to strengthen its position as a leader in the digital economy. As the regulatory landscape continues to evolve, the initiatives spearheaded by Adams may very well set the stage for a new wave of technological innovation and financial growth in the Big Apple.
