New York City Mayor Eric Adams has unveiled his intention to introduce a Bitcoin-backed municipal bond, referred to as ‘BitBond.’ In conjunction with this initiative, he aims to abolish the contentious BitLicense, a regulatory barrier that has posed challenges for cryptocurrency enterprises in the state.
Addressing attendees at the Bitcoin 2025 conference in Las Vegas on Wednesday, Adams proudly proclaimed New York as the Empire State, stating, “We build empires. Come back home,” as he invited crypto businesses to return to the city.
During his speech, he emphasized the historical significance of the proposed financial instrument, declaring, “It’s time for the first time in the history of the city to have a financial instrument that is made for those who are holders of Bitcoin.”
“I believe we need to have a BitBond, and I am going to push and fight to get a BitBond in New York, so you can do safe bond investments in NYC,” he asserted.
BREAKING: NYC MAYOR ERIC ADAMS JUST ANNOUNCED HE’S GOING “TO FIGHT TO GET A BITBOND IN NEW YORK”
THIS IS MASSIVE pic.twitter.com/8Ix0spHEOf
— The Bitcoin Conference (@TheBitcoinConf) May 28, 2025
“Let’s eliminate the BitLicense”: Mayor
The New York BitLicense, which serves as a regulatory framework for cryptocurrency businesses in the city, has attracted considerable criticism from industry stakeholders.
Opponents have urged the state to eliminate the BitLicense swiftly, claiming that doing so would “create opportunities for growth and innovation.” Many contend that its stringent requirements hinder innovation and could drive firms to relocate outside of New York.
The New York Comptroller, Thomas DiNapoli, has previously voiced his opposition to the management of the BitLicense initiative as well.
Adams reiterated his commitment to the crypto community, stating, “Come back home, you have a mayor that is the crypto mayor, is the Bitcoin mayor, and I want you back in the city of New York. Where you won’t be attacked and criminalized. Let’s get rid of the Bitcoin license and allow us to free flow of Bitcoin in our city.”
NYC to Use Bitcoin Blockchain for Birth Certificates
“We are going to use Bitcoin to pay off fines and taxes. We are going to allow our young people to understand what it is to be part of this industry, but we need you on the ground,” Adams explained.
“The message is clear: get out there and show your power. Because if you don’t, elected officials will use theirs to destroy your industry. You must win.”
The post NYC Pro-Crypto Mayor Announces Bitcoin Bond Plan, Intends to Eliminate BitLicense appeared first on Finance Newso.
