New York City Mayor announces creation of сrypto сouncil
Mayor Eric Adams forms crypto advisory council to drive blockchain innovation in NYC
Mayor Eric Adams announced the formation of a crypto advisory council on May 20 during New York City’s first crypto summit held at Gracie Mansion.
The move is part of his broader plan to position NYC as a hub for digital asset innovation and fintech jobs, reports Cryptopolitan.
The council will include key industry leaders and begin developing blockchain-based initiatives in the coming weeks, including putting public records like birth and death certificates on-chain to streamline access for residents.
Adams stressed that the new initiative is not about chasing trends but about delivering practical, long-term solutions for New Yorkers. “We want to use the technology of tomorrow to better serve New Yorkers today,” he said, adding that the advisory group will help shape a more inclusive and resilient tech ecosystem in the city.
Crypto capital ambition backed by Adams’ tech roots
Speaking to a room full of blockchain entrepreneurs and policymakers, Adams reiterated his ambition to make New York “the crypto capital of the globe.” He tied this vision to his own tech background, recalling his early work as a computer programmer on the original OLTPS system that laid the foundation for COMPStat, NYPD’s crime-tracking software.
Adams described the current moment as the “age of tokenization” and emphasized that embracing blockchain and digital finance technologies is key to growing jobs, equity, and efficiency in public services. He framed the crypto advisory council as part of the natural evolution of using technology to improve civic life and modernize city services.
Mayor urges crypto firms to set up shop in New York
In a clear call to action, Adams invited crypto companies looking to expand or return to the U.S. to consider New York City as their base. He emphasized his administration’s efforts to build a friendlier environment for digital asset firms and suggested that NYC could play a pivotal role in helping President Trump make the U.S. “the crypto capital of the planet.”
The mayor, who is seeking reelection, also pledged to improve financial inclusion, modernize government infrastructure, and attract global talent to the city’s fintech sector. While Adams previously criticized the restrictive nature of New York’s BitLicense framework, he struck a more collaborative tone at the summit, stating that smart regulation by NYDFS would ensure safety and integrity for investors and innovators alike.
Recently we wrote that the U.S. Securities and Exchange Commission (SEC) announced on May 20 that it would delay its decision on several pending cryptocurrency exchange-traded fund (ETF) proposals, including Bitwise’s bid to enable Ether staking within its ETF and Grayscale’s XRP-tracking product.
