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Home Crypto News

NYC Pro-Crypto Mayor Announces Bitcoin Bond Plan

Crypto News by Crypto News
May 29, 2025
in Crypto News
Reading Time: 6 mins read
121
A A
0

Sujha Sundararajan
2025-05-29 05:00:00
cryptonews.com

Author

Sujha Sundararajan

Author

Sujha Sundararajan

About Author

Sujha has been recognised as 🟣 Women In Crypto 2024 🟣 by BeInCrypto for her leadership in crypto journalism.

Share



Last updated:Β 

May 28, 2025



Why Trust Cryptonews

Cryptonews has covered the cryptocurrency industry topics since 2017, aiming to provide informative insights to our readers. Our journalists and analysts have extensive experience in market analysis and blockchain technologies. We strive to maintain high editorial standards, focusing on factual accuracy and balanced reporting across all areas – from cryptocurrencies and blockchain projects to industry events, products, and technological developments. Our ongoing presence in the industry reflects our commitment to delivering relevant information in the evolving world of digital assets. Read more about Cryptonews

NYC Mayor BitLicense

New York City (NYC) Mayor Eric Adams has announced plans to build a municipal Bitcoin-backed bond, dubbed β€˜BitBond.’ He further intended to eliminate the New York controversial BitLicense, which has been a significant hurdle for crypto businesses.

Speaking on Wednesday at the Bitcoin 2025 conference in Las Vegas, he said that New York is the Empire State and β€œwe build empires. Come back home,” he called crypto businesses, encouraging to come back to the city.

β€œIt’s time for the first time in the history of the city to have a financial instrument that is made for those who are holders of Bitcoin,” he addressed the gathering.

β€œI believe we need to have a BitBond, and I am going to push and fight to get a BitBond in New York, so you can do safe bond investments in NYC.”

πŸ‡ΊπŸ‡Έ BREAKING: NYC MAYOR ERIC ADAMS JUST ANNOUNCED HE’S GOING “TO FIGHT TO GET A BITBOND IN NEW YORK”

THIS IS MASSIVE πŸš€ pic.twitter.com/8Ix0spHEOf

β€” The Bitcoin Conference (@TheBitcoinConf) May 28, 2025

β€œLet’s eliminate the BitLicense”: Mayor

The New York BitLicense, a regulatory framework for crypto firms in the city, has faced significant criticism from the community.

Critics have urged the state to get rid of BitLicense β€œright away,” to β€œcreate opportunities for growth and innovation.” Some argue that its strict requirements could stifle innovation or drive companies out of New York.

The Office of the New York Comptroller, Thomas DiNapoli, has also previously raised his voice against the management of the BitLicense scheme.

β€œCome back home, you have a mayor that is the crypto mayor, is the Bitcoin mayor, and I want you back in the city of New York,” Adam stated. β€œWhere you won’t be attacked and criminalized. Let’s get rid of the Bitcoin license and allow us to free flow of Bitcoin in our city.”

NYC to Use Bitcoin Blockchain for Birth Certificates

On a concluding note, the mayor said that New York would use Bitcoin and blockchain for birth certificates.

β€œWe are going to use Bitcoin to pay off fines and taxes. We are going to allow our young people to understand what it is to be part of this industry, but we need you on the ground,” he added.

β€œThe message is clear: get out there and show your power. Because if you don’t, elected officials will use theirs to destroy your industry. You must win.”




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