- Mayor Eric Adams urges crypto firms to set up in NYC, aiming to make it the global crypto hub.
- NYC’s first-ever Crypto Summit set for next week, focusing on long-term value and underbanked communities.
- Adams softens stance on NYDFS Bitlicense, warning against overregulation that could stifle growth.
New York City Mayor Eric Adams is going all in on crypto. Speaking from Gracie Mansion on Monday, he urged crypto firms to set up shop in the Big Apple. “This is the Empire State,” Adams said. “We should be building empires – especially in crypto.” With reelection on the horizon, he’s doubling down on his pledge to make NYC the global crypto capital.
Adams is also taking a page out of Trump’s playbook – quite literally. Next week, he’s hosting New York’s first-ever Crypto Summit, aiming to bring together city officials and crypto heavyweights to talk strategy. “We’re not just chasing trends,” Adams said. “We’re looking at long-term value – attracting talent, supporting underbanked communities, and making government more user-friendly.”
Tensions with NYDFS – Regulate or Overregulate?
New York’s crypto scene has a tough gatekeeper: the NYDFS and its infamous Bitlicense. Adams, who once called for scrapping it, now seems to be striking a softer tone. “It’s good to know there are safe regulations in place,” he said, before cautioning, “But overregulation? That can stifle growth. We don’t want that.”
Earlier this year, corruption charges against Adams were dropped by Trump-appointed DOJ officials, a move that led to a mass exit of prosecutors in the Southern District of New York. But now, with crypto firms eyeing New York, Adams seems ready to leave that chapter behind – and build a new one in blockchain.
