Move over, Wall Street, New York City Mayor Eric Adams has a new game plan: making the Big Apple the “crypto capital of the globe.” No meme chasing here, Adams told the crowd at the inaugural NYC Crypto Summit on May 20. Instead, he’s all about using tomorrow’s tech to improve life today.
How? By assembling a digital advisory council packed with local experts who will help steer NYC through the wild world of crypto, blockchain, and fintech innovation. No crystal balls yet, but Adams promises a council chair and policy ideas soon.
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
Before that, on May 12, Adams announced that financial services firm Figure and private equity heavyweights Traction and Scale will be helping NYC dive headfirst into the crypto pool.
Oh, and pay your taxes with Bitcoin? That’s on the table. The city’s even eyeing blockchain to lock down sensitive records like birth certificates and death records, keeping them safe but easily accessible for New Yorkers and their next of kin. Talk about next-level data privacy.
Adams is crystal clear: NYC wants the jobs of the future, right now, with a tech ecosystem that’s diverse, equitable, and inclusive.
Crypto Bills and the Political Shuffle
New York State lawmakers aren’t sitting still either. In April, Assemblyman Clyde Vanel introduced a bill to let state agencies accept crypto payments. It’s waiting for its moment to shine in the full House and Senate.
Back in February, Senator James Sanders Jr proposed the Blockchain Study Act, aiming to create a crypto task force to size up the state’s crypto scene. Still waiting on the green light.
Adams made digital assets a big part of his playbook when he took office in January 2022, even announcing he'd take his first three paychecks in Bitcoin.
Sure, he faced corruption allegations tied to alleged donations from Turkey, but the Justice Department stepped in, local authorities backed off, and the case was dismissed for good on April 2. Crisis averted.
Meanwhile, states across the U.S. are jumping on the crypto bandwagon, too; at least 18 are mulling bills to create strategic Bitcoin Reserves. New Hampshire and Arizona are already cruising ahead with legislation in the bag.
So, New York isn’t just talking the talk, it’s gearing up to lead the crypto charge with some serious muscle behind it. Stay tuned.
Richard Adrian
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