Mayor Eric Adams announced on May 20th that the city of New York was launching a crypto advisory council to bring fintech jobs into the Big Apple. He noted that NYC had sufficient experts to help New Yorkers navigate solutions through blockchain technology.
Speaking at the first ever crypto summit hosted at the mayor’s official residence, Gracie Mansion, Adams asserted that NYC was “open for ‘crypto’ business” and the proposed digital assets council would be composed of industry individuals, with a chair to be confirmed in the coming weeks.
Mayor Adams vows to make New York City the “crypto capital of the globe”
We're taking the next step in becoming the Crypto Capitol of the WORLD, hosting our city's first-ever Crypto and Digital Assets Summit! Join us LIVE as we get started: https://t.co/iwO6ThkaSB
— Mayor Eric Adams (@NYCMayor) May 20, 2025
Mayor Adams said at the crypto conference on Tuesday that he wanted to make New York City the “crypto capital of the globe” and will make policy recommendations in the coming weeks. He also pointed out that in addition to business interests, the city will explore putting birth and death records onto a blockchain to help New Yorkers’ next of kin easily access these types of documents.
Adams told the inaugural NYC crypto summit on May 20 that the plan to establish the city’s crypto advisory council was not about chasing memes and trends. He added that the world is currently in the age of tokenization—which includes, blockchain, and other fintech innovations—and NYC was going to continue to move forward with it.
“We want to use technology of tomorrow to better serve New Yorkers today … That means supporting the development of a more diverse, equitable, inclusive tech ecosystem. We must embrace this emerging technology and build on the success of our economy.”
~ Eric Adams, the Mayor of New York City
The self-proclaimed “tech mayor” also revealed his history as a computer programmer, highlighting that he was one of the original architects of OLTPS, the precursor to COMPStat. He disclosed that he came into the tech world with a real mindset that technology could improve the lives of people, and the establishment of the crypto advisory council was part of “the evolution of that improvement.”
NYC Mayor asks crypto companies to set up shop in the Empire State
Mayor Adams made a pitch to crypto companies returning to the U.S. or expanding their presence in the country to set up shop in New York City. He said at a previous press briefing at Gracie Mansion that the city of New York should be looking forward to building crypto empires.
Adams, who is running for reelection, reiterated his commitment to making NYC a crypto hub, telling reporters that he would work with tech and crypto companies—both big and small—to create a friendly environment to attract and help them succeed. He added that his goal remained the same as it was on day one as mayor, helping President Trump make the U.S. the “crypto capital of the planet.”
Adams also claimed that New York would attract world-class talent, provide opportunities for underbanked communities, and make the government more user-friendly. He pointed out that his office was focused on the long-term value of these technologies for the city and its people.
In the past, Adams was critical of Bitlicense, claiming that it stifled regulation, and he advocated scrapping it shortly after taking office as mayor in 2022. He, however, seemed to strike a more conciliatory tone towards NYDFS, saying that it was good to know that the city would have safe regulations in place for those who were investing and that there would not be any abuses.
