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Mayor Adams Urges Repeal of New York’s BitLicense and Proposes Bitcoin-Backed ‘BitBond’

He is seeking to position New York as a leading crypto hub by rallying digital-asset backers for his reelection campaign.

Mayor Eric Adams speaks during a press conference at city hall Tuesday, May 27, 2025 in Manhattan, New York. (Barry Williams/ New York Daily News)

Overview

  • At the Bitcoin2025 conference in Las Vegas, Adams called for the NYDFS BitLicense to be eliminated to allow unfettered bitcoin activity in New York City.
  • He outlined plans for a ‘BitBond,’ a municipal bond backed by bitcoin designed to raise capital and give residents tax-advantaged exposure to the cryptocurrency.
  • Adams branded himself the “Bitcoin mayor” and urged crypto firms to return to New York, invoking the city’s Empire State heritage to attract talent and investment.
  • The mayor pressed the crypto community to engage in local politics to protect industry-friendly regulations and promote blockchain innovation.
  • After his speech, Adams attended a fundraiser hosted by Brock Pierce, underscoring his reliance on crypto moguls’ financial support for his reelection bid.