A digital asset
investment fund
Viska is an alternative investment fund based in Iceland that invests in digital assets.
Viska is an alternative investment fund based in Iceland that invests in digital assets.
New York City Mayor Eric Adams has reaffirmed his commitment to transforming the city into the "crypto capital of the globe," unveiling a series of initiatives aimed at revitalizing the local cryptocurrency industry. The mayor recently spoke at the first-ever NYC crypto policy summit earlier this month.
Before the first NYC Crypto Summit, the mayor pledged to ´´create more a more favorable environment for the crypto industry´´, with the intent to foster innovation of the emerging sector. Image of article headline by Decrypt 12.5.25
At the Bitcoin 2025 conference in Las Vegas, Mayor Adams called for the repeal of New York State's BitLicense, a regulatory framework introduced in 2015 that has been criticized for its stringent requirements and high costs. The BitLicense mandates that crypto businesses obtain a license from the New York Department of Financial Services, a process that can cost over $100,000, leading many firms to exit the state. Adams argued that eliminating the BitLicense would encourage crypto businesses to return to New York City, fostering innovation and economic growth.
NYC Mayor Adams speaking at the 2025 Bitcoin Las Vegas Conference
In addition to regulatory reforms, Mayor Adams proposed the creation of a "BitBond," a municipal bond backed by Bitcoin. This financial instrument would allow investors to gain exposure to Bitcoin while supporting city projects. A policy brief from the Bitcoin Policy Institute suggests a model where bondholders receive an annual interest rate of 1% over ten years, along with a share of any Bitcoin market gains. Proceeds from the bond would be allocated primarily to government spending, with a portion used to purchase Bitcoin.
Mayor Adams announced the formation of a Digital Asset Advisory Council during the inaugural NYC Crypto Summit. The council aims to attract fintech jobs and investment to New York City by advising on policies that promote the growth of the crypto industry. Adams emphasized the importance of public-private collaboration in developing a regulatory environment conducive to innovation.
Beyond financial instruments and regulatory changes, Mayor Adams is exploring the integration of blockchain technology into city services. Potential applications include using blockchain for managing vital records like birth and death certificates and enabling the payment of city taxes and fines using cryptocurrencies. These initiatives aim to modernize city operations and enhance transparency and efficiency.
Mayor Eric Adams' approach to embracing cryptocurrency and blockchain technology signals a symbolic shift in New York City's stance towards the digital asset industry. By advocating for the repeal of restrictive regulations like the BitLicense, proposing innovative financial instruments such as the BitBond, and integrating blockchain into city services, Adams aims to position New York City at the forefront of the global crypto economy. These initiatives reflect a broader commitment to fostering innovation, attracting investment, and ensuring that New York City remains a leader in the evolving financial landscape.
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