Mayor Eric Adams Unveils Digital Advisory Council to Cement NYC’s Crypto Leadership

New York City Mayor Eric Adams has announced plans to form a digital advisory council aimed at attracting investment, creating tech jobs, and positioning the city as the “crypto capital of the globe.” The declaration came during his keynote speech at the first-ever New York City Crypto Summit on May 20.

“This is not about chasing memes or trends,” Adams told attendees. “We want to use the technology of tomorrow to better serve New Yorkers today.” Emphasizing a long-term vision, he said the city must embrace innovations like blockchain and crypto to build a modern, equitable economy.

Crypto Council to Guide NYC’s Digital Strategy

Though specific names and functions of the advisory council have yet to be disclosed, Adams said a chairperson and initial policy recommendations will be announced in the coming weeks. The council will include experts from financial technology, blockchain, and public policy sectors, tasked with helping the city navigate and implement forward-thinking crypto strategies.

Earlier this month, Adams also revealed that financial services firm Figure and private equity groups Traction and Scale will assist in shaping the city’s crypto roadmap. Among their goals: exploring crypto payments for municipal services and leveraging blockchain for secure management of sensitive documents such as birth and death records.

“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,” Adams explained. “We want to bring jobs of the future to our city today.”

Statewide Legislation Lags Behind City’s Vision

While Adams pushes forward, state lawmakers are also working to catch up. In April, Assemblyman Clyde Vanel introduced a bill that would allow New York State agencies to accept crypto as payment. However, it has yet to reach the state’s full House or Senate for a vote.

Meanwhile, the Blockchain Study Act—introduced by Senator James Sanders Jr. in February—seeks to form a state crypto task force. That bill too remains in early stages.

Adams, who made digital assets a centerpiece of his mayoral campaign in 2022 and famously accepted his first three paychecks in Bitcoin, continues to advocate for integrating crypto into city governance. Although he faced a corruption investigation tied to alleged foreign donations, the case was dismissed with prejudice on April 2.

Across the U.S., momentum is building. At least 18 states are considering legislation to create strategic Bitcoin reserves, with New Hampshire and Arizona already approving such measures.