Mayor Eric Adams has announced his plans to launch Bitcoin bonds at the Bitcoin 2025 conference.
Proposal for Bitcoin Bond
Eric Adams has expressed support for Bitcoin bonds, which would allow investors to fund city projects with Bitcoin. Adams noted that this financial instrument could attract Bitcoin holders to invest in the city while benefiting from digital asset gains. His administration is working on frameworks to integrate Bitcoin-backed bonds into the city's financial planning.
Call to Repeal BitLicense
Adams also reiterated the need to repeal the BitLicense program that regulates cryptocurrency companies in New York State. He argues that this program stifles innovation and drives crypto firms away from operating in the city. The mayor emphasizes the necessity of a more flexible and business-friendly regulatory framework.
Support from the Private Sector
To accelerate the city’s digital transformation, Adams also announced partnerships with private financial firms to assist in designing crypto strategies, including the implementation of Bitcoin bonds. He introduced a Digital Advisory Council to guide planning and investment strategies for blockchain integration into city operations.
Eric Adams' proposals for launching Bitcoin bonds and repealing the BitLicense program highlight his commitment to making New York a leader in crypto finance.
