New York City Mayor Eric Adams launched the country’s first city-level office of cryptocurrencies and blockchains on Tuesday.
First-Ever Municipal Office For Crypto
Adams signed Executive Order 57, establishing the New York City Office of Digital Assets and Blockchain, according to a press release by the Mayor’s office.
The newly established office aims to promote the “responsible use” of digital assets and blockchain technologies, stimulate economic opportunities for city residents and attract “world-class” talent.
“The age of digital assets is here, and with it comes the chance to grow our economy, attract world-class talent, expand opportunities for underbanked communities, and make government more user-friendly,” Adams said.
Adams also appointed Moises Rendon as the executive director of the office. Rendon, currently the policy advisor for digital assets at the New York City Office of Technology and Innovation, will form a commission of digital asset executives to oversee the office’s activities.
Adams Is A Bitcoiner
Adams is well-known for his pro-cryptocurrency stance. He took his first three paychecks in Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) upon assuming office in January 2022, a move that invited a lot of ridicule.
As Bitcoin’s value edged closer to the $100,000 mark late 2024, he seized the moment to address his skeptics, stating, “Remember y’all laughed at me when I first got my Bitcoin? Who’s laughing now?”
According to Adams’ most recent financial disclosure statement, his Bitcoin holdings by the end of 2023 ranged between $5,000 and $54,999.
Adams’ leadership has been praised by billionaire investor Bill Ackman. Last month, Ackman commended Adams for his years of service to New York City and his decision to step aside from his re-election campaign.
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
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