In a recent address at Bitcoin 2025, New York City Mayor Eric Adams advocated for the abolition of the BitLicense, aiming to entice crypto companies back to New York. He emphasized the city's role as an economic powerhouse, asserting that it should foster, rather than hinder, the growth of cryptocurrency enterprises. Adams reiterated concerns over over-regulation while suggesting the introduction of a new financial instrument, the BitBond, which could provide tax-advantaged access to bitcoin for residents. The initiative shows the mayor's commitment to positioning New York as a crypto-friendly environment.
New York is the Empire State. We don't break empires. We build empires. We're saying to you, come back home. I'm the Bitcoin mayor, and I want you back in the City of New York, where you won't be attacked and criminalized.
It's good to know the city is going to have safe regulations in place for those who are investing and there's not going to be any abuses, but at the same time, we can over regulate.
Adams promised to fight for the creation of a so-called BitBond that could allow residents to gain exposure to bitcoin in a tax-advantaged way.
The Bitcoin Policy Institute released a policy brief advocating for BitBonds that would use 90% of their proceeds to fund government and 10% to purchase bitcoin.
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