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