NYC Mayor Eric Adams Advocates for Abolishing BitLicense and Introducing 'BitBond'
In a prominent address at Bitcoin 2025 in Las Vegas, Mayor Adams emphasized the need to eliminate the restrictive BitLicense and proposed the innovative BitBond to attract cryptocurrency businesses back to New York City.
NYC Mayor Eric Adams Advocates for Abolishing BitLicense and Introducing ‘BitBond’
Speaking at Bitcoin 2025 in Las Vegas, Mayor Eric Adams urged for the cancellation of the BitLicense to facilitate a more seamless integration of cryptocurrency firms into New York City.
Key Points:
- Adams called for an end to the BitLicense, which he believes restricts crypto businesses from thriving in the city.
- He proposed a BitBond, a municipal bond backed by bitcoin, aimed at attracting investment and providing tax benefits.
Adams declared, “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. Let’s get rid of the [Bit]License and allow us to have the free flow of bitcoin in our city.”
Previously, Adams had voiced his discontent regarding the BitLicense regulations enforced by the New York Department of Financial Services (NYDFS), highlighting their restrictive nature on new investors.
He emphasized the need for a BitBond, which could potentially enable New Yorkers to invest in bitcoin in a way that offers tax advantages while also aiding the city’s capital needs.
While details about this proposed BitBond remain vague, initiatives like this could change the narrative surrounding crypto regulations in New York City.
