NYC Mayor Eric Adams Launches Crypto Advisory Council to Make City Global Blockchain Hub

New York City Mayor Eric Adams has announced the formation of a digital advisory council aimed at transforming the city into the “crypto capital of the globe.” The announcement came during the inaugural New York City Crypto Summit on May 20, where Adams emphasized his administration’s commitment to using blockchain and fintech innovation to benefit New Yorkers.

“This is not about chasing memes or trends,” Adams told attendees. “We want to use the technology of tomorrow to better serve New Yorkers today.” He noted that the advisory council would consist of industry experts who will help shape policies to foster a more inclusive and innovative tech ecosystem in the city.

While specific details about the council’s members and its scope are still forthcoming, Adams said a council chair and policy recommendations would be released in the coming weeks.

Earlier this month, Adams revealed that private sector partners — including financial services firm Figure and private equity groups Traction and Scale — would support the city’s blockchain initiatives. These efforts aim to bring fintech-related jobs to NYC and enhance its standing as a leader in digital innovation.

The city is also exploring the feasibility of accepting cryptocurrency for certain services and taxes. Adams expressed interest in using blockchain to securely manage sensitive public records, such as birth and death certificates, ensuring both privacy and accessibility for residents and their families.

“We must embrace this emerging technology and build on the success of our economy,” Adams said. “We want to bring jobs of the future to our city today.”

This initiative comes amid growing crypto-related activity at the state level. In April, Assemblyman Clyde Vanel introduced a bill to allow New York State agencies to accept crypto payments, while in February, Senator James Sanders Jr. proposed the Blockchain Study Act to create a task force to assess the industry’s status in the state. Both bills are still under legislative review.

Mayor Adams has been a vocal supporter of digital assets since taking office in January 2022. He famously pledged to receive his first three paychecks in Bitcoin as part of his pro-crypto platform. Although he faced scrutiny over alleged illegal donations linked to the Turkish government, the case was dismissed with prejudice on April 2, clearing his legal standing.

Nationwide, the momentum around crypto policy is accelerating. At least 18 U.S. states are reviewing bills to create strategic Bitcoin reserves, with New Hampshire and Arizona already passing such legislation, according to Bitcoin Reserve Monitor.