New York, NY — Mayor Eric Adams is extending an invitation to cryptocurrency companies considering a return or expansion in the U.S. to establish their operations in New York City.

Key Details:

• Adams aims to position NYC as a central hub for cryptocurrency, emphasizing the city’s potential for growth in this sector.
• He is set to host the inaugural Crypto Summit next week, intended to foster collaboration between city leaders and crypto representatives.

“This is the Empire State,” Adams stated during a press briefing at Gracie Mansion. “We should be looking forward to building empires, particularly in the crypto space.”

Adams, who is pursuing reelection, reaffirmed his objective to transform NYC into a cryptocurrency hub and noted his plans to collaborate with tech and crypto firms, large and small, to create a welcoming environment.

“My goal remains the same as it was on day one as mayor: making New York City the crypto capital of the globe,” Adams declared.

This statement mirrors the ambitions of former President Trump, who has often spoken about making the U.S. the leading nation in cryptocurrency.

In aligning with this direction, Adams is organizing the first-ever Crypto Summit in NYC. This event aims to unite municipal officials and crypto industry stakeholders to explore mutual benefits. Adams’ administration described this summit as occurring shortly after the White House Digital Asset Summit in March.

“We’re going to attract world-class talent, provide opportunities for underbanked communities, and make government more user-friendly,” Adams said. “We are focused on the long-term values of these technologies for our city and its people, not chasing memes or trends.”

In recent months, officials appointed by Trump directed that corruption charges against Adams be dismissed, which led to significant changes in the Southern District of New York’s prosecution team.

New York’s crypto industry, along with its banking and insurance sectors, operates under the stringent oversight of the New York Department of Financial Services (NYDFS). Adams has previously criticized the Bitlicense requirement, which permits businesses to operate as crypto companies in the state, stating that it hampers industry growth.

However, during a recent briefing, he acknowledged the importance of a secure regulatory framework: “It’s good to know that the city is going to have safe regulations for investors to prevent abuses.”

Adams warned against excessive regulations that could stifle industry development, emphasizing the need for a balanced approach to regulation.