Mayor's Bitcoin Conference Speech: NYC to Lead Innovation
At the 2025 Bitcoin Conference in Las Vegas, New York City Mayor Eric Adams delivered a passionate speech. He compared the American flag to Bitcoin, stating, 'Just as our flag still flies, Bitcoin is going to continue to fly in our country.' Adams emphasized, 'New York City is going to lead the way. We are going to be the leader because we know the power of innovation and what innovation has to offer.' He recalled a summit held in New York a few weeks ago, noting that it had a clear focus: it is time for crypto firms no longer to go through the lawfare that forced them to flee the city. 'New York is the empire state. We don't break empires, we build empires.' Adams called back everyone who left New York because of overregulation, saying, 'Come back home, you have a mayor that is the crypto mayor, the Bitcoin mayor. Where you won't be attacked and criminalized.'
Abolishing BitLicense, Calling Crypto Firms to Return
Adams explicitly criticized New York's strict crypto regulatory framework, especially the BitLicense system. He urged, 'Let's get rid of the Bitcoin license and allow us to free flow of Bitcoin in our city.' This statement is seen as a major boost for New York's crypto startup ecosystem. BitLicense's high barriers and costly fees have driven many startups to other states or countries. Adams promised to push for change, making New York a welcoming place for crypto innovation again.
Bit Bond: First Financial Instrument for Bitcoin Holders
The most striking announcement was the issuance of a Bit Bond. Adams stated, 'It's time for the first time in the history of this city to have a financial instrument that is made for those who are holders of Bitcoin. I believe we need to have a Bit Bond and I am going to push and fight to get a Bit Bond in New York.' While details remain undisclosed, a Bit Bond is expected to be a municipal bond linked to Bitcoin's value, allowing Bitcoin holders to invest directly in NYC public projects while benefiting from crypto appreciation. This innovative move could attract global crypto capital to New York.
Bitcoin Blockchain in Municipal Services
Adams closed his speech by outlining broad applications of Bitcoin in NYC municipal services: 'We are going to use Bitcoin blockchain for our 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.' This means the city plans to integrate Bitcoin blockchain into public services for transparency and efficiency. Accepting Bitcoin for fines and taxes also offers residents a new payment option, further driving mainstream crypto adoption.