Mayor Eric Adams of New York has proposed a bold plan to introduce Bitcoin bonds that could help transform the city into a crypto capital.
Mayor Adams' Plan for Bitcoin Bonds
During the Bitcoin 2025 conference in Las Vegas, Mayor Adams suggested introducing a new type of city bond backed by Bitcoin. He believes these bonds could attract new investments and create tech jobs. Adams has also formed an advisory council to explore the possibilities of implementing this idea.
Comptroller Lander's Discontent
Comptroller Brad Lander expressed his opposition to the proposal, calling it 'legally dubious and fiscally irresponsible.' He noted that U.S. tax laws do not allow bonds to be used for purchasing cryptocurrencies and that New York can only use them to fund infrastructure in U.S. dollars.
The Future of Digital Finance in New York
The debate over Bitcoin bonds highlights the increasing interest in decentralized currencies within politics. While some leaders like Lander express concerns, others, including Adams, see this as an opportunity for New York. The city aims to take a leading role in the acceptance of digital currencies and blockchain.
Despite existing disagreements, the potential introduction of Bitcoin bonds could play an important role in the future of New York's finances and its position in the world of digital currencies.
