NYC Mayor Eric Adams launches crypto advisory council

New York City Mayor Eric Adams has announced the launch of a Digital Assets Advisory Council aimed at positioning NYC as the "crypto capital of the globe" and attracting fintech jobs and investment to the city. The announcement was made during the inaugural NYC Crypto Summit held at Gracie Mansion on May 20, 2025.

The council will be composed of industry experts and professionals from the digital assets and blockchain sectors. A chairperson and key policy recommendations are expected to be announced in the coming weeks.

The goal is to leverage emerging technologies such as blockchain and tokenization not just for financial innovation but also to improve city services. For example, NYC is exploring using blockchain to securely manage sensitive vital records like birth certificates and death records, making them private yet accessible to New Yorkers and their next of kin.

Mayor Adams emphasized that this initiative is not about chasing trends but about embracing the "technology of tomorrow" to better serve the city's residents today. He highlighted the city's existing talent pool in fintech and crypto and called for these experts to help guide government policy and growth in this sector.

The advisory council is part of a broader effort to create a more diverse, equitable, and inclusive tech ecosystem in NYC, attracting world-class talent and supporting underbanked communities.

Adams has also invited crypto companies to establish or expand their presence in New York City, aiming to build a friendly regulatory and business environment that fosters growth and innovation.

This move follows Adams' previous criticisms of restrictive regulations, though he now advocates for balanced regulation that protects investors without stifling innovation.

Mayor Eric Adams' launch of the crypto advisory council marks a strategic push to make New York City a global hub for cryptocurrency, blockchain technology, and fintech innovation, combining economic development with improved public services through emerging technologies.

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