New York mayor doubles code with a call to kill bitlicense

New York City is moving forward to becoming a global crypto capital, backed by a proactive push for the mayor to scrap suffocate rules and embed blockchains embedded within the city.

“Legendary Legacy”: New York mayor pushes Crown City as global crypto capital

The growing commitment to blockchain and digital assets will entail an expansion of the industry that shapes how New York City envisions a financial future and supports strong leadership. New York City Mayor Eric Adams highlighted his continued support for digital assets during a fireplace chat at the Tokenization and Programmable Real World Asset Injection Summit on June 26th.

Taking my first three paychecks with Bitcoin was a clear, symbolic message I was sending. Because there are many misnomers about digital assets.

Despite initial skepticism and criticism, Adams noted that his decision was on track and pointed to increased long-term value. He also believes Brock Pierce sparked interest in space, highlighting the role of crypto in reducing costly remittances in New York’s Caribbean Diaspora.

Turning to policy, Adams denounced New York’s Bit Resense Framework to curb innovation and deter crypto startups. He called on the community to be actively involved in the legislative process. “If we didn’t learn anything from this last election, this administration at the federal level is very code-friendly. I think there were 60 laws that we were able to get through our homes in the first 120 days. We can do it here too.”

The mayor of New York City proposed to abolish the current Bitresense structure and support supporters to state and local leaders to make New York more friendly to the crypto business. He emphasized:

You need to remove the Bitlicense, which was introduced about 10 years ago. It was used to demonize the industry. There were people who made decisions that didn’t really understand the industry.

Adams further criticizes the results of Bitlicense, highlighting its limited success. “If you only have a small number of bit licenses like this, it’s clear that this is in place to sabotage the industry.” As of June 2025, only around 30 companies had licenses, so companies are requiring that they meet strict compliance standards set by the New York State Department of Financial Services (NYDFS). Adams argued that surveillance is important, but excessively restrictive measures promote innovation from the state. “There’s no need to sabotage the industry to regulate it,” he said, acknowledging concerns about fraud, but noting that there is financial crime in all sectors.

Going forward, Adams has expressed a broader vision, including education, regulation and infrastructure. He plans to integrate blockchain into school curriculum and public services, and “no more than one of our underprivileged communities and young people walking to schools and using bitcoin to buy bread,” Adams sees the initiative as part of a bigger legacy. “If we can create this city as the Grove’s crypto capital, it’s a legacy that will leave.”