New York City is poised to become a global leader in blockchain innovation with Mayor Eric Adams’ announcement of a new crypto advisory council. Speaking at the New York City Crypto Summit on May 20, 2025, Adams outlined plans for the council to guide the city’s digital asset strategy, attract investment, and create jobs.
The initiative aims to harness blockchain technology to modernize city services, including secure management of sensitive records like birth and death certificates, and explore cryptocurrency payments for select services and taxes.
With support from financial firms like Figure and private equity groups Traction and Scale, New York is positioning itself as the “crypto capital of the globe,” aligning with a broader pro-crypto movement across the state and nation.
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Crypto Advisory Council to Shape NYC’s Blockchain Future
The newly announced crypto advisory council will consist of industry experts tasked with identifying blockchain applications that serve the public interest. While details, including the council’s full composition, remain forthcoming, Adams confirmed that a chairperson will be appointed soon, with key policy recommendations expected within weeks. The council’s mandate includes exploring innovative uses of blockchain to enhance administrative efficiency.
Adams made the case for blockchain to securely manage sensitive records, stating, “Birth certificates and death records can remain private but accessible.” This move reflects a growing recognition of blockchain’s ability to improve transparency and security in public services, with real-time discussions indicating strong industry support for such initiatives.
Modernizing Financial Infrastructure with Crypto
A cornerstone of Adams’ vision is to integrate cryptocurrency into New York City’s financial ecosystem. The city is evaluating whether residents can pay for select services and taxes in cryptocurrencies like Bitcoin, aligning with efforts to modernize financial infrastructure.
This initiative builds on Adams’ pro-crypto stance since taking office in January 2022, when he converted his first three mayoral paychecks into Bitcoin as a symbolic gesture.
Recent web data suggests that pilot programs for crypto payments could begin as early as Q1 2026, pending council recommendations and regulatory approval. Financial services firm Figure, alongside Traction and Scale, is already collaborating with the city to develop its crypto roadmap, signaling robust private-sector backing.
Did You Know?
New York City was the first major U.S. city to accept Bitcoin for event tickets at a Brooklyn Nets game in 2023, signaling early adoption of crypto in public services.
New York State’s Pro-Crypto Momentum
The push for cryptocurrency adoption extends beyond city limits, with New York State officials advocating for a pro-crypto environment. In April 2025, Assembly member Clyde Vanel reintroduced a bill to allow state agencies to accept cryptocurrency for fines, taxes, and other obligations.
Vanel’s proposal also includes studying blockchain’s role in securing election systems and protecting voter data, with a requirement for the State Board of Elections to deliver findings within a year if passed.
Additionally, State Senator James Sanders Jr. has proposed a task force to assess blockchain’s economic impact. Across the U.S., at least 18 states are exploring Bitcoin reserves, with New Hampshire becoming the first to authorize public fund investments in Bitcoin in early May 2025, according to recent market updates.
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National and Global Context
New York’s crypto initiatives reflect a broader trend of institutional adoption across the U.S. and globally. As of May 21, 2025, Bitcoin trades at approximately $107,500, up 1.5% in the past 24 hours, per CoinMarketCap, bolstering confidence in crypto as a strategic asset.
Some sources indicate that states like Texas and Wyoming are also advancing pro-crypto legislation, while global hubs like Dubai and Singapore are competing to attract blockchain innovation.
New York’s council could set a precedent for urban crypto adoption, with social media discussions highlighting optimism about job creation and investment inflows. However, challenges remain, including regulatory clarity and public skepticism about crypto volatility, which the council will need to address.
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