- New York City Mayor Eric Adams will form a digital advisory council to attract investment and jobs to the city’s crypto and technology sector.
- Plans include exploring crypto payments for city services and taxes, as well as using blockchain for managing birth and death records.
- The city is working with firms such as Figure, Traction, and Scale to support these digital initiatives.
- New York State lawmakers have introduced bills focused on allowing crypto payments and creating a task force to study blockchain, but legislation has not yet advanced.
- Other U.S. states are also considering similar crypto-related legislation, with New Hampshire and Arizona having established strategic Bitcoin reserves.
On May 20, Mayor Eric Adams announced the creation of a digital advisory council at the inaugural New York City Crypto Summit. The council will aim to make New York City a leading global center for crypto technology and investment.
Adams stated the council would include local experts and promised to announce a chairperson and key policy recommendations in the coming weeks. He emphasized the city’s focus on practical uses of technologies like blockchain and tokenization instead of short-term trends.
Adams said, “We want to use the technology of tomorrow to better serve New Yorkers today.” Partners Figure, Traction, and Scale will work with the city on these efforts. Adams also described plans to allow crypto payments for city services and taxes, and to use blockchain for securing sensitive records such as birth and death certificates, stating, “Bringing blockchain security capabilities to the city means that birth certificates and death records can remain private but accessible to New Yorkers and their next of kin.”
In New York State, lawmakers have proposed multiple bills regarding cryptocurrencies. In April, Assemblyman Clyde Vanel introduced a bill to let state agencies accept crypto for payments, but it has not reached a full vote in the House or Senate. State Senator James Sanders Jr also proposed the Blockchain Study Act to create a crypto task force, which is yet to advance. More information is available at the New York Assembly site and Senate bill page.
Since taking office in January 2022, Adams has prioritized digital assets, even declaring he would take his first three paychecks in Bitcoin.
On a national level, at least 18 states in the U.S. are reviewing crypto legislation, with New Hampshire and Arizona passing laws to create state Bitcoin reserves, according to Bitcoin Reserve Monitor.
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