- NYC mayor Eric Adams launches a council to boost crypto jobs and investment.
- State crypto bills lag despite Adams’ strong push for blockchain innovation.
At the first-ever NYC Crypto Summit, Mayor Eric Adams unveiled a new advisory council aimed at positioning New York City as a global leader in the crypto economy.
Mayor Eric Adams’s bold crypto plan
Speaking to a packed audience of blockchain innovators and investors, Adams emphasized the city’s commitment to fostering crypto-driven growth through job creation and strategic investment.
Known for converting his initial mayoral paychecks into Bitcoin [BTC] and Ethereum [ETH], Adams once again turned to the crypto community for insights on advancing New York’s role as a future-facing financial hub.
Remarking on the same, Adams said,
“This is not about chasing memes or trends. We want to use the technology of tomorrow to better serve New Yorkers today.”
He added,
“We have experts right here, and they are going to help us navigate solutions that serve our city. The age of tokenization, which includes crypto and blockchain, and other fintech innovations, that age is here, and we’re going to continue to move forward with it.”
How are lawmakers acting as blockers?
However, despite the enthusiasm from City Hall, New York State’s broader legislative approach to crypto remains cautious.
Lawmakers have introduced multiple bills aimed at exploring and regulating the digital asset space, but few have progressed beyond the initial stages.
In April, Assemblyman Clyde Vanel proposed a bill to authorize state agencies to accept cryptocurrency as payment, though it has yet to be considered by the full House or Senate.
Similarly, Senator James Sanders Jr.’s Blockchain Study Act, intended to form a task force to assess the state’s crypto landscape, has stalled in the House.
What’s more?
Yet, despite these blockers, Mayor Adams continues to advocate for blockchain innovation, renewing efforts to draw crypto firms back to the city despite the slow-moving regulatory environment.
In fact, at a recent press conference at Gracie Mansion, Adams reaffirmed his commitment to cultivating a more supportive environment for both blockchain startups and major players in the digital asset sector.
Despite facing and ultimately overcoming legal challenges earlier this year, his vision for New York as a crypto leader remains intact.
Amid this, the national momentum remains driven as at least 18 U.S. states are actively considering Bitcoin reserve legislation, with New Hampshire and Arizona already having passed such measures.
