NYC Mayor Eric Adams Proposes Ending BitLicense and Introduces ‘BitBond’
During his speech at Bitcoin 2025 in Las Vegas, New York City Mayor Eric Adams called for the abolition of the BitLicense to attract crypto businesses back to the city. Key points include:
- Adams emphasized New York as a hub for crypto, stating, "We’re saying to you, come back home."
- He criticized the BitLicense, which is seen as difficult to obtain, and suggested it hinders business.
- Adams proposed the creation of a BitBond, potentially allowing residents to invest in bitcoin through municipal bonds.
- The proposed BitBond would use proceeds to fund government initiatives and purchase bitcoin, offering holders interest and potential returns.
- Details on the BitBond were not provided, but a prior policy brief suggested a structure involving 1% annual interest and a profit-sharing mechanism based on bitcoin's performance.
Adams is currently running for re-election as an independent after being elected as a Democrat.