Eric Adams, Mayor of New York City, will create a digital board of recommendation to win jobs and investments for the Big Apple and to position it as a “crypto capital of the world”.
“This just isn’t about pursuing memes or trends,” said Adams on May 20, the primary New York City Crypto Summit.
“We have experts here and so they help us navigate solutions that serve our city,” he added. “The age of tokenization that features crypto and blockchain and other fintech innovations is that this age here and we are going to proceed to develop.”
Adams said no further details concerning the consulting group, but said that a md of the council chairman and crucial political recommendations would follow in the subsequent few weeks.
We take the subsequent step to turn into the world's crypto capitol and to arrange the primary crypto and digital assets Summit of our city! Do with us live once we start: https://t.co/iwo6thkasb
– Mayor Eric Adams (@nycmayor) May 20, 2025
On May 12, Adams announced the financial service company and personal equity company Traction and scale on the Krypto efforts.
New York City will even investigate whether certain services and taxes will be paid for via Crypto, in addition to the usage of blockchain tech for the management of sensitive information comparable to birth certificates and death certificates.
“Bringing the safety functions of blockchain into town signifies that birth certificates and death certificates remain private, but are accessible to New Yorker and their closest relatives,” said Adams.
“We would love to bring jobs into the longer term today. This means to support the event of a more diverse, fair and integrative tech ecosystem. We have to simply accept this aspiring technology and construct on the success of our economy,” he added.
Crypto laws proposed in New York
The legislature of the state of New York has already introduced several legislative proposals to control crypto. In April, the meeting man Clyde Vanel presented a legislative template to alter the state's financial law in order that New York State Agentures can accept crypto as a payment.
However, laws still has to achieve the complete house or the state of the state.
James Sanders JR, Senator of the New York State State, proposed the Blockchain Study Act in February, which might create a crypto -act force to research the present state of crypto within the state. It still has to come back past the home.
Adams made digital assets to a big extent of his guideline platform after he accepted an office in January 2022 and announced a plan to simply accept his first three salary checks in Bitcoin (BTC).
He was charged with alleged illegal donations from the Turkish government for allegations of corruption, but civil servants from the Ministry of Justice entered into and instructed the local authorities to intervene. The case was dismissed on April 2, which implies that it can’t be reopened.
More and more US states are also working on crypto-related laws, whereby at the least 18 legislative templates for the establishment of a strategic Bitcoin reserve are taken under consideration. According to Bitcoin Reserve, two states, New Hampshire and Arizona, have successfully adopted laws.
