Mayor Eric Adams wants New York City to become the first city globally to issue a Bitcoin-backed bond

Mayor Eric Adams, while talking at the ongoing Bitcoin conference, has revealed New York City will be the first city in the world to issue a Bitcoin-backed bond, referred to as a BitBond. Mayor Adams emphasized his commitment to introducing what he tagged a new financial instrument and also revealed intentions to eliminate the New York BitLicense . Mayor Eric Adams says Bitcoin will flow in NYC During his speech at the Bitcoin 2025 conference, Mayor Adams stated that the so-called BitBond would be a financial instrument for Bitcoin holders. He promised to push and fight to ensure residents of New York City can access bond investments. Mayor Adams added that their focus is now on “thinking big and being unafraid of the future,” after which he urged those listening to “come out of the shadows” and return 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 said. It is not surprising that Mayor Adams is championing the Bitcoin course in New York City. The mayor is famous for his pro-crypto stance, with many even referring to him as the “Bitcoin Mayor”— a befitting name for the charismatic politician who famously opted to receive his first three paychecks in Bitcoin and Ethereum, signaling his support for digital currencies. Among political leaders, his administration also stands out for making moves to integrate cryptocurrency into the city’s financial ecosystem. He has played a role in promoting initiatives to make New York City a hub for cryptocurrency, including the announcement of a digital assets advisory council aimed at boosting the crypto industry in the city. His speech at the Bitcoin conference aligns with his broader policy of fostering a crypto-friendly environment. In addition to plans to issue Bitcoin-backed bonds, he will also potentially revisit or eliminate the New York BitLicense, a regulatory framework for cryptocurrency businesses in the state. Mayor Adams announced a new digital assets advisory council for New York City Eric Adams, Mayor of New York City. Mayor Adams’ speech about BitBond comes not long after he and Chief Technology Officer Matthew Fraser hosted New York City’s first crypto summit this month. Attendees included prominent founders, CEOs, and investors from the cryptocurrency, blockchain, and fintech industries. The summit convened to discuss how the growing cryptocurrency industry can boost the economy, attract top talent, and inspire innovation in New York City. In opening remarks at the summit, Mayor Eric Adams announced the development of a digital assets advisory council designed to help bring jobs and investment to New York City. “My goal remains the same as it was day-one as mayor: making New York City the crypto capital of the globe,” said Mayor Adams. “We will be creating a digital asset advisory council to bring big fintech jobs and investment right here to the Big Apple.” Mayor Adams did not share further details about the council, but he indicated that the chair of the council and key policy recommendations would be announced in a couple of weeks. “This is not about chasing memes or trends,” Mayor Adams stated. “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

Source: Cryptopolitan