tl;dr
New York Mayor Eric Adams urged the crypto community to return to New York City by proposing a Bitcoin Bond and calling for the removal of the BitLicense, a regulatory requirement he views as restrictive. At the Bitcoin 2025 conference, Adams emphasized his support for crypto innovation and the need...
New York Mayor Eric Adams is championing a bold plan to rejuvenate the city's cryptocurrency scene by advocating for the creation of a Bitcoin Bond and pushing to eliminate the restrictive BitLicense. Speaking at the Bitcoin 2025 conference, Adams invited the crypto community to return to New York City, emphasizing his commitment as the “crypto mayor” to foster innovation and ensure the free flow of Bitcoin without criminalization.
Adams highlighted New York’s efforts, including the establishment of a digital assets advisory council aimed at attracting jobs and investments. The BitLicense, enacted in 2015, currently imposes costly and stringent regulatory requirements on crypto businesses, with fees ranging from $5,000 to over $100,000. While some major firms such as Circle, Coinbase, and Robinhood Crypto hold BitLicenses, Adams argues this framework stifles growth and innovation.
Drawing a historical parallel, Adams compared Bitcoin’s grassroots origins to Betsy Ross sewing the first American flag—a symbol created by an ordinary, hardworking individual rather than an elite intellectual or regulator. He emphasized that Bitcoin embodies the power of everyday people and should be nurtured similarly.
Adams also reiterated his personal commitment to crypto, noting that he converted his initial mayoral paychecks into Bitcoin and Ethereum. Calling for community action, he urged crypto supporters to engage with local lawmakers and defend the industry from regulatory threats. Adams stressed that, beyond conferences, effective advocacy on the ground is essential to prevent elected officials from undermining the industry.
“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,” Adams declared, positioning New York as a potential beacon of crypto innovation and opportunity.