Eric Adams Champions Crypto as NYC Gears Up for Democratic Primary
In a strong push to position NYC as a leader in digital innovation, Mayor Eric Adams laid out an ambitious crypto-forward vision just as voters prepared to cast ballots in the city’s Democratic primary. Speaking at the Permissionless conference in Brooklyn, Adams delivered sharp criticism of former Governor Andrew Cuomo’s stance on digital assets while unveiling fresh initiatives aimed at embedding crypto into the city’s fabric.
Taking Aim at Cuomo’s Crypto Track Record
Adams did not hold back. He directly blamed Cuomo for what he called the dismantling of New York’s digital asset ecosystem. Describing Cuomo’s policies as “misguided,” the mayor argued that the former governor’s administration stifled innovation by creating overly aggressive regulations.
His remarks were strategically timed. Cuomo, despite a checkered past involving sexual misconduct allegations and a 2021 resignation, currently leads in most Democratic primary polls. Adams’s criticism offered a sharp contrast, portraying him as a progressive force on crypto while casting Cuomo as part of a failed regulatory past.
A New City Council for Crypto Policy
In a move designed to reshape policy at the state level, Adams proposed forming a city council dedicated to advocating for crypto within state governance. This council would help bridge the gap between state legislation and New York City’s evolving blockchain ecosystem.
He also revealed plans to integrate crypto-based payments into municipal services, pushing NYC toward becoming a truly digital-first city. In addition, he championed blockchain and cryptocurrency education in public schools, emphasizing that future generations must be prepared for a decentralized economy.
Leading by Example—and With Bitcoin
Adams, long known for his pro-crypto stance, famously accepted his first three paychecks in Bitcoin. At the Brooklyn event, he confirmed he still holds that crypto, signaling personal confidence in the market’s long-term value.
Though now running as an independent, Adams is expected to face Republican Curtis Sliwa in the general election—another candidate with crypto leanings. The winner of Tuesday’s Democratic primary will also join the November contest, setting the stage for a heated, tech-forward race.
Pushing for a Bitcoin-Backed Bond
Perhaps most controversially, Adams reiterated his proposal to launch a Bitcoin-backed municipal bond—a financial innovation meant to diversify the city’s funding mechanisms. However, Comptroller Brad Lander has publicly criticized the idea, calling it “legally dubious and fiscally irresponsible.”
Unfazed, Adams hinted that he may explore regulatory workarounds to bypass opposition, suggesting that bold ideas sometimes require bold action.
Federal Momentum Adds Fuel
During his remarks, Adams pointed to the federal government’s increasing momentum on crypto legislation. He praised the recent push in Congress to regulate stablecoins and market structures, adding that city and state governments are now catching up. “You’re seeing that same energy pick up at the local level,” he said.
His message was clear: NYC can—and should—lead.
Legal Clouds Still Hover
Despite his bold initiatives, Adams isn’t without controversy. He faces legal scrutiny over alleged campaign donations tied to the Turkish government. While the Justice Department, under former President Trump, intervened in some parts of the case, questions around ethics and political motivations continue to swirl.
What’s Next for NYC and Crypto?
As Adams charts a tech-savvy future for New York, much depends on voter response. His ideas challenge traditional systems but offer a bold roadmap for the digital economy. With crypto gaining ground at the federal level and innovation surging globally, NYC may soon find itself at the forefront of blockchain governance—if Adams has his way.
Stay tuned to Maple Wire for the latest updates on NYC politics, crypto policy, and more.
