NYC’s ‘Bitcoin Mayor’ Eric Adams Reveals Plans to Boost ‘Demonized’ Crypto Industry

In opening remarks on the inaugural NYC Crypto Summit, mayor Eric Adams introduced the event of a digital property advisory council designed to assist carry jobs and funding to New York Metropolis, because it goals to cement itself because the world’s “crypto capital.”

Adams, who famously obtained his first three paychecks in Bitcoin and Ethereum again in 2022, addressed a standing-room-only crowd of crypto fans and buyers whom he turned to for concepts on easy methods to propel New York ahead.

“My aim stays the identical because it was day-one as mayor: making New York Metropolis the crypto capital of the globe,” mentioned Adams. “We can be making a digital asset advisory council to carry huge fintech jobs and funding proper right here to the Massive Apple.”

Additional particulars concerning the council weren’t revealed, although Adams indicated that the chair of the council and key coverage suggestions can be introduced in just a few weeks.

“This isn’t about chasing memes or developments,” mentioned Adams. “We need to use the know-how of tomorrow to raised serve New Yorkers at present.”

Few specifics had been shared concerning the mayor’s plans for blockchain and crypto in New York, however each he and New York Metropolis CTO Matthew Fraser made be aware of the potential to make use of blockchain for duties like monitoring start certificates and loss of life data.

“We’re additionally trying on the energy of blockchain and the way it may be used to handle delicate data, like our very important data,” mentioned Adams. “Bringing blockchain safety capabilities to town implies that start certificates and loss of life data can stay personal, however accessible to New Yorkers and their subsequent of kin.”

He added that also they are exploring whether or not metropolis providers and taxes might be paid through crypto.

“Think about for these which were locked out of the normal banking system, having the ability to pay for presidency providers utilizing crypto,” mentioned Fraser. “We’re not speaking about innovation; we’re speaking about survival. And if we don’t get in entrance of this and we don’t construct a technique that works, then we’re going to get left behind.”

The mayor, who likened himself to Captain Kirk in “Star Trek” attributable to his exploration of latest boundaries, mentioned he’s in search of his “Spock” and others who want to be a part of him. Adams reiterated a number of occasions that he’s “dedicated to creating crypto and blockchain a part of New York Metropolis.”

On the conclusion of the opening remarks, people with crypto and fintech pursuits had been left to debate amongst themselves, sharing concepts and impediments with desk facilitators who will carry one of the best to Adams to be formalized in a doc.



Adams has beforehand shared his curiosity in cryptocurrency and blockchain, however the inaugural NYC Crypto Summit got here following the re-election of President Donald Trump, who has made quite a few crypto-related coverage strikes since returning to the White Home. The mayor has cozied as much as the president and his insurance policies.

Adams will run for re-election as an impartial as a substitute of collaborating within the Democratic major, following a federal corruption investigation. Trump’s DOJ dismissed the fees towards Adams in April.

On Tuesday, Adams reassured attendees that it’s a brand new day for the crypto business.

“You had been harassed, you had been demonized, you had been handled as if you had been the enemy, as a substitute of the believers,” he mentioned. “However you withstood it. Your resiliency is admirable, and it’ll all repay, as a result of everybody goes to return round.”

Edited by Andrew Hayward