Nikolas Sargeant
New York City Mayor Eric Adams has unveiled plans to establish a new crypto advisory council, signaling the city's ambition to become a global leader in digital finance. Speaking at the inaugural New York City Crypto Summit on May 20, Adams emphasized the importance of leveraging emerging technologies like blockchain to enhance city services and drive economic growth. The council aims to provide policy recommendations and strategies to integrate digital assets into various sectors, including public services and financial transactions.
The initiative reflects Adams' ongoing commitment to fostering innovation and attracting investment to New York City. Earlier this month, he announced partnerships with financial services company Figure and private equity firms Traction and Scale to support the city's crypto efforts. Adams also suggested exploring the possibility of accepting cryptocurrency for certain city services and taxes, as well as utilizing blockchain technology to manage sensitive records such as birth and death certificates.
While the formation of the advisory council is a significant step, the success of these initiatives will depend on collaboration with state lawmakers and regulators. Adams has previously called for a cooperative approach to crypto regulation, urging officials to "listen to those within the industry" as they develop policies to support digital asset growth. However, the city's ability to enact certain changes may be limited by state-level regulations, which remain a critical factor in the broader adoption of crypto technologies.
Despite legal challenges faced by Adams, including a recent indictment on charges related to bribery and campaign finance violations, the crypto advisory council represents a continued effort to position New York City at the forefront of technological innovation. As the city navigates these complexities, the focus remains on harnessing the potential of digital assets to benefit its residents and economy.
Contextualizing Mayor Eric Adams' Vision for NYC's Crypto Future
Mayor Eric Adams has consistently championed New York City's evolution into a global hub for cryptocurrency and blockchain innovation. In 2022, he made headlines by converting his first three mayoral paychecks into Bitcoin and Ethereum, signaling his personal commitment to digital assets . This move underscored his vision of transforming the city into a center of cryptocurrency innovation.
Adams' administration has actively pursued policies to integrate digital finance into the city's infrastructure. In April 2025, he announced the inaugural NYC Crypto Summit, bringing together industry leaders to discuss how blockchain technology can drive economic growth and innovation . This summit highlighted the city's commitment to fostering collaboration between the public and private sectors in the digital finance space.
Under Adams' leadership, New York City has attracted significant investment from the crypto industry. In April 2025, MoonPay, a global leader in crypto payments, established its U.S. headquarters in SoHo, joining over 130 crypto companies, including Coinbase and Gemini, that have expanded operations in the city. This influx of crypto firms reflects the city's evolving regulatory environment and its appeal as a center for digital finance.
