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‘Bitcoin Mayor’ Eric Adams Launches NYC’s Office for Blockchain and Digital Assets

Highlights:

  • New York City launches first-ever mayoral blockchain office to boost digital innovation.
  • The new office will link the crypto industry and government to drive responsible growth.
  • Adams’ blockchain push aims to expand opportunities and strengthen NYC’s global fintech role.

New York City Mayor Eric Adams signed Executive Order 57 to establish a new office focused on digital assets and blockchain. This is the first mayoral office of its kind in the United States. The office will operate under the city’s Chief Technology Officer, Matthew Fraser, and Moises Rendon, a blockchain policy expert from the Office of Technology and Innovation, will serve as its executive director.

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New NYC Blockchain Office to Drive Innovation and Support Digital Economy

The Office of Digital Assets and Blockchain will coordinate efforts between the crypto industry and the government. It will also work with federal and state authorities to promote policies that make New York City more welcoming to blockchain and crypto initiatives that add value and follow laws. The office aims to attract talent to keep the city competitive in financial innovation.

Adams said New York City has long been a hub for innovation and is now exploring new technologies. He explained that digital assets could help grow the economy, attract top talent, and support underbanked communities. He also noted that these technologies can make government services easier and more accessible. “New York City is embracing the technologies of tomorrow. Blockchain has the potential to expand opportunities for underbanked communities and strengthen our position as a global fintech hub,” Adams added.

Bitcoin Mayor explained that the new office will help strengthen the city’s role as a cryptocurrency hub. It will advise the mayor on policies and legislation. The office will also teach people about digital assets and help them use them safely. It will run public education campaigns to help New Yorkers clearly understand the risks and benefits of digital currencies. The office will guide residents on protecting their wallets, spotting fake websites or messages, and avoiding common online fraud. This educational effort will also promote financial inclusion by reaching communities traditionally excluded from banking services.

Adams’ Crypto Leadership and Legacy

The NYC Blockchain Office is the result of Adams’ two-year effort to bring blockchain into city government. Adams became well-known in the crypto industry after choosing to take his first three paychecks in Bitcoin while running for mayor in 2021. As mayor, he created a digital advisory council. He also suggested the city issue Bitcoin-backed bonds. Additionally, he criticized New York’s BitLicense program as too strict.

Adams’ term as mayor will end later this year. Last month, Adams wrote that despite the city’s achievements, he could not continue his campaign. Public opinion polls had shown him far behind Mamdani and Cuomo, who were running as independents. The polls also indicated that Mamdani holds a strong lead ahead of the November 4 election in the nation’s largest city.

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