New York City Mayor Eric Adams supports Bitcoin, intending to make the city a leader in cryptocurrency. This announcement precedes the upcoming Crypto Summit scheduled for 2025.
Support for Bitcoin and City's Ambitions
Mayor Eric Adams expressed hope that New York will become the **"crypto capital of the globe."** He indicated his intentions to advance digital currency in the city amid economic changes.
Crypto Summit 2025
The Crypto Summit is planned for May 20, 2025. Key figures in this initiative are Mayor Adams and Chief Technology Officer Matt Fraser. They emphasize the importance of blockchain technology adoption beyond financial services. Matt Fraser stated: **"The opportunity to democratize access to vital records, things like birth and death records, to be able to access information at scale securely. Blockchain and crypto provide us a foundation where we can involve these things."**
Impact on Regulation and Crypto Markets
Adams' initiatives could lead to significant changes in how crypto businesses operate in New York. Markets are also observing potential changes in legislation that might lead to revising existing **Bitlicense** requirements and help attract more firms to the city. The historically strict [New York Department of Financial Services](https://www.cityandstateny.com/policy/2022/01/what-you-need-know-about-eric-adams-and-cryptocurrency/361047/) may face pressure to adapt. Mayor Adams remarked: **"We should be looking forward to building empires, particularly in the crypto space. My goal remains the same as it was on day one as mayor: making New York City the crypto capital of the globe."**
The mayor's support for Bitcoin and the upcoming Crypto Summit could influence not only the local market but also regulatory policies regarding cryptocurrencies in other states.
