New York City’s mayor has linked the future of the Big Apple to cryptocurrency, blockchain, and a newly proposed “digital asset advisory council” that aims to bring more jobs to the city. At the inaugural NYC Crypto Summit, Mayor Eric Adams announced that the city will establish a “digital asset advisory council” intended to attract fintech employment and investment directly to New York. In the coming weeks, he noted, a council chairperson will be appointed along with “key policy recommendations. ” Adams dismissed the notion that the city is merely following a passing trend—especially at a time when President Donald Trump's administration supports the expansion of cryptocurrency, which raises concerns about benefiting from that growth. “This is not about chasing memes or trends, ” Adams told attendees. “We want to harness the technology of tomorrow to better serve New Yorkers today. We have experts right here who will help us find solutions that benefit our city. ” He added that the city is “exploring” the possibility of allowing residents to pay taxes and fees using cryptocurrency. Adams also mentioned that “we’re looking into the power of blockchain, ” which could be used to “manage sensitive information like our vital records. ” New York City is not the only local or state government contemplating blockchain—a decentralized digital ledger designed to track not only cryptocurrency transactions but also other data, such as identity information. Blockchain transactions can be publicly verified, with proponents emphasizing the security the technology provides. At times, Adams’ remarks encouraging more crypto and blockchain activity sounded like a call for those involved to step out openly. “We’re fortunate to have this kind of human capital right here in New York City. You’ve been hidden in the shadows, hesitant to come out in the daylight, ” he told the summit.

“Now’s the time. You can thrive in this great city. ” While other governments have adopted cryptocurrencies or are considering similar moves, Adams’ plan seems notably bold and not primarily focused on investing in digital coins. For instance, Wyoming recently established a state-administered stable token, expected to be issued in July. Such tokens are backed by U. S. dollars or euros, making them considered relatively safe digital currency investments by advocates. Adams emphasized that increased crypto development could largely impact job growth and create a more diverse and equitable “tech ecosystem. ” “My objective remains unchanged since day one as mayor: to make New York City the crypto capital of the world, ” he stated.