‘Bitcoin Mayor’ Eric Adams Calls for End to New York’s BitLicense

New York Mayor Embraces Crypto, Calls for Bitcoin Bond and End to BitLicense

New York City Mayor Eric Adams is doubling down on his support for the crypto industry, calling for the creation of a Bitcoin Bond and the removal of the state's controversial BitLicense requirements. In a speech at the Bitcoin 2025 conference, Adams positioned himself as the "crypto mayor" and urged the crypto community to return to the "Empire State."

"New York is the Empire State. We don't break empires—we build empires. We're saying to you: come back home," Adams said. "You have a mayor who is the crypto mayor, is 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 Bitcoin license and allow us to have the free flow of Bitcoin in our city."

Adams' push to attract the crypto industry comes a week after he hosted the inaugural New York Crypto Summit, where he announced the development of a digital assets advisory council to help bring jobs and investment to the city. The mayor, who famously received his first three paychecks in Bitcoin and Ethereum, has been a vocal advocate for crypto and blockchain technology.

Addressing the BitLicense Controversy

Introduced in 2015, the BitLicense is a legal requirement for businesses that deal in crypto in New York. The BitLicense was established to regulate the industry and protect consumers from fraud, but has been criticized by crypto companies for its strict compliance standards and high costs, which can start around $5,000 and potentially reach more than $100,000.

In his speech, Adams compared the origins of Bitcoin to the story of Betsy Ross, saying that Bitcoin is being driven by everyday people, just as Ross, popularly credited with sewing the first American flag, created a lasting national symbol. He urged the crypto community to engage with local lawmakers who support the industry and actively defend it.

"Let your voices be heard. Show the power of the Bitcoin community. We'll use Bitcoin and blockchain for birth certificates, to pay fines and taxes, and to help young people understand this industry, but we need you on the ground," Adams said. "The message is clear: get out there and show your power. Because if you don't, elected officials will use theirs to destroy your industry. You must win."