Las Vegas, Nevada – Eric Adams, the mayor of New York City, called for the end of Bitlicense in a speech on Bitcoin 2025 in Las Vegas on Wednesday.
During his speech, Adam’s crypto companies called on to return to the United States and set up a store in New York and repeat comments he made last week at the city’s first crypto summit held in Gracie Mansion, the mayor’s official home in Manhattan.
“New York is Empire State. We don’t break empires. We build empires. We say to you, come home,” said Adams. “[I’m] The Bitcoin mayor and I want you back in the city of New York where you are not being attacked and criminalized. Let’s get rid of [Bit]License and let’s get the free flow of Bitcoin in our city. “
Adams has previously criticized Bitlicense, the notorious difficult to undergo a license issued by New York’s top financial regulator, the New York Department of Financial Services (Nydfs). But when asked about the impact of Bitlicense and Nydfs’ reputation as a tough regulator during a press conference earlier this month, Adams Hedged and said It was “good to know that the city wants to have safe rules in place for those who invest and there will be no abuse, but at the same time we can regulate.”
Adams also promised to fight for the creation of a so -called Bitbond, probably referring to a municipal bond supported by Bitcoin.
Such a bond could potentially allow residents of New York to get exposure to the top cryptocurrency in a tax -distributed way. The instrument would also allow the city to raise capital.
Adams did not give details of the city’s potential bitbond. However, the Bitcoin Policy Institute released a policy brief in March that spoke for Bitbonds who would spend 90% of their revenue to finance the government and 10% to buy Bitcoin.
Holders of the bond would have 1% interest annually for 10 years. After the expiry of the bond, they would also receive 100% of Bitcoin’s upside down up to 4.5% composed returns, after which 50% of all remaining upside up. Any remaining Bitcoin gains would be used to constitute the government’s Bitcoin reserve.
Adams, first elected as a Democrat, currently runs for re -election as independent.
