New York City Mayor Eric Adams is doubling down on his vision to make the city a global leader in the crypto industry. Speaking at the first-ever NYC Crypto Summit, Adams announced the creation of a Digital Assets Advisory Council aimed at bringing tech jobs and investment to the Big Apple.
The mayor, who gained attention in 2022 by taking his first three paychecks in Bitcoin and Ethereum, told a packed room of crypto supporters that New York must embrace the future of digital finance.
“My goal since day one has been clear: I want New York City to be the crypto capital of the world,” said Adams.
Although full details about the advisory council were not shared, Adams said more information, including who will chair the group and what policies they’ll recommend, will be announced in the coming weeks.
Focus on Jobs, Technology, and Innovation
Adams emphasized that his plan is not about chasing internet trends or hype. Instead, he said it’s about using blockchain technology to improve everyday life for New Yorkers.
“We want to use the technology of tomorrow to solve the problems of today,” Adams said. “Crypto isn’t just an investment. It’s about access, opportunity, and growth.”
The mayor and New York City CTO Matthew Fraser highlighted potential uses of blockchain for managing sensitive records, such as birth and death certificates, by making them secure yet accessible.
Fraser also said the city is exploring ways to let residents pay for government services and taxes using crypto—an idea aimed at supporting New Yorkers who don’t have access to traditional banks.
“This is not just innovation—it’s survival,” Fraser said. “If we don’t adapt, we get left behind.”
A New Chapter for Crypto in New York
The NYC Crypto Summit marked a fresh start for the digital assets industry in a city that has often been cautious about cryptocurrency. In his speech, Adams praised crypto supporters for staying strong despite years of criticism and regulatory pressure.
“You were treated like outsiders,” Adams said. “But you stood firm. Now, it’s your time.”
Calling himself the “Captain Kirk” of this new journey, the mayor said he’s looking for tech experts and innovators to help guide the city through its crypto transformation.
Participants at the summit broke into small discussion groups after the speech, offering their ideas and concerns. These ideas will be collected and reviewed by the mayor’s office to help shape future crypto policy in New York.
Politics and the Future
Adams’ latest push comes shortly after the re-election of President Donald Trump, who has shown increasing support for the crypto space. The mayor, now running as an independent, has aligned himself with several of the president’s crypto policies.
Earlier this year, a federal corruption investigation against Adams was dropped by the Justice Department. Now, with that chapter behind him, the mayor says it’s time to move forward—with crypto at the center of his economic plan.
“The industry has been demonized for too long,” Adams said. “But now, it’s a new day—and New York is ready.”
