NYC Mayor Eric Adams Pushes to Make City a Global Crypto Hub

New York City Mayor Eric Adams is doubling down on his vision to transform the Big Apple into a global crypto hub. Speaking at Gracie Mansion, Adams invited crypto companies returning to or expanding within the U.S. to choose New York as their base. “This is the Empire State. We should be building empires—especially in crypto,” he said.

Adams, seeking reelection, emphasized his long-standing goal of establishing NYC as the world’s crypto capital. He promised to collaborate with tech and blockchain firms of all sizes to foster a welcoming environment that promotes growth and innovation. His approach mirrors recent statements by Donald Trump, who has also pledged to make the U.S. the “crypto capital of the planet.”

Next week, Adams will host the city’s first-ever Crypto Summit. Modeled after the White House Digital Asset Summit held in March, the event aims to bring together government officials and crypto industry leaders to explore how digital assets can benefit both the city and its residents. Adams highlighted goals like attracting top talent, supporting underbanked communities, and modernizing government services through blockchain technology.

Despite the city’s stringent regulatory framework, including the notoriously hard-to-obtain Bitlicense issued by the New York Department of Financial Services (NYDFS), Adams appeared more measured in his latest comments. While he previously criticized the Bitlicense as a barrier to growth, he now acknowledges the importance of balancing investor protection with innovation. “Safe regulations are necessary, but overregulation can hurt the industry,” he warned.

Adams' push for crypto leadership comes amid political controversy, including the recent dismissal of federal corruption charges against him. Nonetheless, his message to the crypto industry is clear: New York City is open for blockchain business.