New York City mayor Eric Adams said he would make sure that a Bitcoin Bond was launched in the city and changed his call to the Ax New York bitlicense program.
Speaking at Bitcoin 2025 Conference, Adams promised to uphold and support the Creating bonds in municipality Bitcoin’s back (Btc).
“We have financial instruments for all other bonds. You can have tax-free bonds and other bonds. It’s time for the first time in this city history to have a financial instrument made for Bitcoin holders,” he said.
“I believe we need to have a bitbond, and I’m going to push and fight to get a bitbond in New York so you can make the same bond investments in New York City.”
Adams did not share details about how a bitbond would work; However, a brief policy policy on March 31 from the Advocacy Group the Bitcoin Policy Institute suggested A model where holders receive an annual interest rate of 1% for 10 years.
When the bond lasts, the holders also accept the percentage of any Those who got into the bitcoin market. At the same time, 90% of funds raised by bonds are allocated to government spending, while 10% is used to buy Bitcoin, According to In the short bond policy of the Bitcoin Policy Institute.
Adams pushed back to Ax Bitlicense
Adams also called for repeating the New York Bitlicense program, which was launched by the state in 2015 and requires crypto businesses to apply for a license with the New York Department of Financial Services and meet strict compliance standards.
The Bitlicense program is received criticism from the industryand Adams also said the proposal was too expensive with high licensing fees, and too strictly anti-money laundering and knowing the steps to your customer.
“You have a mayor of crypto mayor, is the mayor of Bitcoin, and I want you to return to the city of New York, where you will not attack and criminal,” he said.
“Let’s remove the Bitcoin license and allow us to have a free bitcoin flow in our city.”
Related: NYC mayor doubled in Crypto Push early by City Summit
The USDC Stablecoin Issuer Circle was one of the first crypto companies to receive a bitlicense; Others followed, along with the BAKKT’s crypto exchange Coinbase and trading firm.
Adams are actively pushing to attract crypto companies in New York City. As part of his latest effort, Adams said at the inaugural New York City Crypto Summit on May 20 Creates a digital advisory council To attract jobs and investments.
Meanwhile, on May 12, Adams announced the company of financial figures and private equity firms traction and scale would be helping the city in its crypto efforts.
Magazine: Crypto City: Guide to New York
