{"id":852194,"date":"2025-05-30T09:11:42","date_gmt":"2025-05-30T14:11:42","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2025\/05\/30\/new-york-mayor-eric-adams-get-rid-of-bitlicense\/"},"modified":"2025-05-30T09:11:42","modified_gmt":"2025-05-30T14:11:42","slug":"new-york-mayor-eric-adams-get-rid-of-bitlicense","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2025\/05\/30\/new-york-mayor-eric-adams-get-rid-of-bitlicense\/","title":{"rendered":"New York Mayor Eric Adams: \u201cGet Rid\u201d of BitLicense"},"content":{"rendered":"<div id=\"page\">\n<div id=\"content_box\">\n<header>\n<div>\n<p><img loading=\"lazy\" alt src=\"https:\/\/secure.gravatar.com\/avatar\/2b5363381b9fb67e5d83a7331644feccb6ac7671ad22cc5b5555df342567c3bb?s=32&#038;d=mm&#038;r=g\"  height=\"32\" width=\"32\" decoding=\"async\"><\/p>\n<p><span><span>By <a href=\"https:\/\/fullycrypto.com\/author\/mahu_bs\" title=\"Posts by Mark Hunter\" rel=\"author\">Mark Hunter<\/a><\/span><\/span><\/p>\n<p><span><\/p>\n<p>1 day ago<span>Thu May 29 2025 08:44:02<\/span><\/p>\n<p><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/p>\n<\/p><\/div>\n<\/header>\n<p><img width=\"1300\" height=\"890\" src=\"https:\/\/fullycrypto.com\/wp-content\/uploads\/2025\/05\/New-York-Mayor-Eric-Adams-Get-Rid-of-BitLicense.png\" alt=\"New-York-Mayor-Eric-Adams---'Get-Rid'-of-BitLicense\" title decoding=\"async\" fetchpriority=\"high\" data-layzr=\"https:\/\/fullycrypto.com\/wp-content\/uploads\/2025\/05\/New-York-Mayor-Eric-Adams-Get-Rid-of-BitLicense.png\">\t\t\t\t\t\t\t\t\t\t\t<\/p>\n<div>\n<p><span><span>Reading Time: <\/span> <span> 2<\/span> <span>minutes<\/span><\/span><\/p>\n<ul>\n<li aria-level=\"1\"><span>New York Mayor Eric Adams has called for the repeal of New York\u2019s BitLicense regulation<\/span><\/li>\n<li aria-level=\"1\"><span>Adams has proposed the introduction of a Bitcoin-backed municipal bond, termed \u2018BitBond\u2019<\/span><\/li>\n<li aria-level=\"1\"><span>Adams has urged cryptocurrency businesses to return to New York City, promising a more welcoming regulatory environment<\/span><\/li>\n<\/ul>\n<p><span>New York City Mayor Eric Adams has advocated for the elimination of the state\u2019s <\/span><a href=\"https:\/\/fullycrypto.com\/what-is-the-new-york-bitlicense\"><span>BitLicense<\/span><\/a><span>, a long-standing regulatory framework for cryptocurrency businesses. Speaking at the Bitcoin 2025 conference in Las Vegas, Adams also introduced the concept of a \u2018BitBond\u2019\u2014a municipal bond backed by Bitcoin, encouraging crypto enterprises to return to New York, assuring them of a more supportive and less restrictive regulatory climate.<\/span><\/p>\n<h2><span>Adams Calls BitLicense a Barrier to Innovation<\/span><\/h2>\n<p><span>At the Bitcoin 2025 conference, Mayor Adams criticized the BitLicense, introduced in 2015 by the New York State Department of Financial Services (NYDFS), labeling it as a hindrance to innovation. Adams stated his desire to \u201cget rid of the [Bit]License and allow us to have the free flow of Bitcoin in our city,\u201d\u00a0 emphasizing that the stringent requirements of the BitLicense have driven cryptocurrency businesses away from New York.<\/span><\/p>\n<p><span>In addition to advocating for regulatory reform, Adams proposed the creation of \u2018BitBonds\u2019\u2014municipal bonds backed by Bitcoin\u2013an initiative that aims to raise capital for the city while providing residents with exposure to Bitcoin\u2019s potential growth. According to a policy brief by the Bitcoin Policy Institute, such bonds would allocate 90% of proceeds to government funding and 10% to purchasing Bitcoin, offering investors annual interest and a share in Bitcoin\u2019s appreciation.<\/span><\/p>\n<h2><span>Encouragement for Crypto Businesses to Return<\/span><\/h2>\n<p><span>Mayor Adams extended an invitation to cryptocurrency businesses to return to New York City, assuring them of a more favorable regulatory environment:<\/span><\/p>\n<blockquote>\n<p><span>New York is the Empire State. We don\u2019t break empires\u2014we build empires. We\u2019re saying to you: come back home.<\/span><\/p>\n<\/blockquote>\n<p><span>Adams reiterated his commitment to making New York a global hub for cryptocurrency innovation, announcing the formation of a digital assets advisory council. This council is intended to attract fintech jobs and investment to New York City, aligning with Adams\u2019 vision of establishing the city as a leader in the crypto industry.\u00a0<\/span><\/p>\n<p><span>Adams first called for the <\/span><a href=\"https:\/\/fullycrypto.com\/eric-adams-scrap-new-york-bitlicense-to-remain-competitive\"><span>BitLicense to be scrapped<\/span><\/a><span> in 2022, and in the Trump administration, he finally has a political ally who can help him achieve this.<\/span><\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/fullycrypto.com\/new-york-mayor-eric-adams-get-rid-of-bitlicense?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=new-york-mayor-eric-adams-get-rid-of-bitlicense\" class=\"button purchase\" rel=\"nofollow noopener\" target=\"_blank\">Read More<\/a><br \/>\n Mark Hunter<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Mark Hunter 1 day agoThu May 29 2025 08:44:02 Reading Time: 2 minutes New York Mayor Eric Adams has called for the repeal of New York\u2019s BitLicense regulation Adams has proposed the introduction of a Bitcoin-backed municipal bond, termed \u2018BitBond\u2019 Adams has urged cryptocurrency businesses to return to New York City, promising a more<\/p>\n","protected":false},"author":1,"featured_media":852195,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4784,24761],"tags":[],"class_list":{"0":"post-852194","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-adams","8":"category-mayor"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/852194","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=852194"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/852194\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/852195"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=852194"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=852194"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=852194"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}