NYC Mayor Eric Adams has announced the formation of a new crypto advisory council to grow the city’s fintech sector and create blockchain-related jobs. Speaking at the first-ever crypto summit held at Gracie Mansion on May 20, Adams said New York City is positioning itself as a global center for digital assets and innovation.
The mayor confirmed that the council would comprise industry professionals and begin formal operations soon. A chairperson for the group is expected to be appointed in the coming weeks.
Mayor pushes to make NYC a global crypto hub
During the summit, Mayor Adams reaffirmed his vision to establish New York City as the leading crypto capital of the world. He said the initiative is about more than just digital currencies and highlighted the broader potential of blockchain to improve public services. He specifically mentioned exploring blockchain solutions for managing birth and death records, making these documents easier for families to access.
Adams stressed that the focus is on real-world applications rather than trends, noting the importance of embracing tokenization and the evolution of financial technology. He said New York must build a more inclusive and innovative tech environment to serve its residents better.
Personal tech background drives Adams’ initiative
The mayor shared that his background in technology influenced his decision to push for more digital transformation in city governance. He recalled his early work as a computer programmer and contributor to OLTPS, a system that preceded the well-known COMPStat used by law enforcement. Adams said his long-standing belief in the power of technology to improve lives continues to shape his policy direction today.
He called the creation of the crypto advisory council a step forward in the city’s broader mission to adopt emerging technologies and build a future-ready economy.
Adams invites crypto firms to build in NYC
Mayor Adams used the event to encourage crypto firms expanding in the U.S. to consider New York as their base of operations. He emphasized that the city remains committed to welcoming innovation and building strong partnerships with tech companies. He promised a regulatory environment that is both safe and supportive of growth.
Adams once criticized New York’s BitLicense, but now he says that government oversight should be balanced. He told investors that the city would guard against exploitation and support sustainable growth for those who are not well served by traditional banks and talented experts.