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

New York Mayor Calls for Bitcoin Bond and Removal of BitLicense to Attract Crypto Industry

New York City Mayor Eric Adams is doubling down on his efforts to make the Big Apple a hub for the cryptocurrency industry. In a speech at the Bitcoin 2025 conference, Adams called for the creation of a Bitcoin Bond in the city and the removal of its controversial BitLicense requirements.

"New York is the Empire State. We don't break empires—we build empires. We're saying to you: come back home," Adams said, addressing the crypto community. "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."

The mayor's speech comes a week after he hosted the inaugural New York Crypto Summit, where he announced the development of a digital assets advisory council aimed at attracting jobs and investment to the city. Adams, who famously received his first three paychecks in Bitcoin and Ethereum, believes that New York can become the "crypto capital" of the world.

Introduced in 2015, the BitLicense is a legal requirement for businesses that deal in cryptocurrency in New York. While it was established to regulate the industry and protect consumers, the compliance standards and costs can be a significant barrier for crypto firms looking to operate in the state.

In his speech, Adams compared the origins of Bitcoin to the story of Betsy Ross, stating that the cryptocurrency is being driven by everyday people, just as Ross, popularly credited with sewing the first American flag, created a lasting national symbol.

Reiterating his early support for crypto, Adams said he believes in innovation and wants to make New York City a leader in the industry, where investors and developers can thrive without being "attacked or criminalized." He urged the crypto community to engage with local lawmakers who support the industry and actively defend it.

"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," Adams said.