NYC Pro-Crypto Mayor Announces Bitcoin Bond Plan, Intends to Eliminate BitLicense

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Sujha Sundararajan

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Sujha Sundararajan

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May 29, 2025

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New York City (NYC) Mayor Eric Adams has announced plans to build a municipal Bitcoin-backed bond, dubbed ‘BitBond.’ He further intended to eliminate the New York controversial BitLicense, which has been a significant hurdle for crypto businesses.

Speaking on Wednesday at the Bitcoin 2025 conference in Las Vegas, he said that New York is the Empire State and “we build empires. Come back home,” he called crypto businesses, encouraging to come back to the city.

“It’s time for the first time in the history of the city to have a financial instrument that is made for those who are holders of Bitcoin,” he addressed the gathering.

“I believe we need to have a BitBond, and I am going to push and fight to get a BitBond in New York, so you can do safe bond investments in NYC.”

“Let’s eliminate the BitLicense”: Mayor

The New York BitLicense, a regulatory framework for crypto firms in the city, has faced significant criticism from the community.

Critics have urged the state to get rid of BitLicense “right away,” to “create opportunities for growth and innovation.” Some argue that its strict requirements could stifle innovation or drive companies out of New York.

The Office of the New York Comptroller, Thomas DiNapoli, has also previously raised his voice against the management of the BitLicense scheme.

“Come back home, you have a mayor that is the crypto mayor, is the Bitcoin mayor, and I want you back in the city of New York,” Adam stated. “Where you won’t be attacked and criminalized. Let’s get rid of the Bitcoin license and allow us to free flow of Bitcoin in our city.”

NYC to Use Bitcoin Blockchain for Birth Certificates

On a concluding note, the mayor said that New York would use Bitcoin and blockchain for birth certificates.

“We are going to use Bitcoin to pay off fines and taxes. We are going to allow our young people to understand what it is to be part of this industry, but we need you on the ground,” he added.

“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.”