Overview
- In remarks at what was likely his final press conference as mayor, Eric Adams said he wants to use cryptocurrency to combat antisemitism, address violence, and support education.
- He provided no operational details or timeline, describing the concept as still taking shape and promising more information in the future.
- New York's BitLicense framework imposes stringent capital, AML, cybersecurity, and reporting rules, with institutional custody broadly approved only for Bitcoin and Ethereum.
- During his tenure, Adams promoted digital assets, creating an Office of Digital Assets and Blockchain and publicizing the conversion of his early paychecks to bitcoin.
- Mayor-elect Zohran Mamdani has not stated a crypto position, with reporting indicating he is likely to focus on cost-of-living concerns first.