NYC Mayor Adams Proposes Bitcoin Bond, BitLicense Repeal

New York City Mayor Eric Adams has reignited his push for cryptocurrency adoption, advocating for a groundbreaking Bitcoin bond and the elimination of the controversial BitLicense.

Speaking at the Bitcoin 2025 conference, Adams declared his commitment to promoting the issuance of municipal bonds backed by Bitcoin (BTC). This ambitious proposal aims to provide a novel investment vehicle specifically for Bitcoin holders within the city.

“We have financial instruments for all other bonds,” Adams stated. “It’s time for New York City to offer a financial instrument designed for Bitcoin holders. We need a Bitbond, and I will fight to make it happen in New York City.”

While specifics remain scarce, a March 31 policy brief from the Bitcoin Policy Institute outlined a potential model. This model suggests a 1% annual interest rate over 10 years, with additional payouts linked to Bitcoin market growth upon maturity. The proposal allocates 90% of funds raised to city spending and 10% to Bitcoin acquisition.

BitLicense Repeal Demanded

Adams also reiterated his call to abolish New York’s BitLicense. Implemented in 2015, this regulatory framework mandates strict compliance standards for crypto businesses operating within the state. The BitLicense has drawn significant criticism for its high costs and stringent AML/KYC measures.

Adams views the BitLicense as detrimental to New York’s crypto sector. He argues that the program’s cost and regulations are excessive and drive businesses away. “I want to create a welcoming environment for crypto businesses. Let’s get rid of the BitLicense and allow the free flow of Bitcoin in our city,” he emphasized.

Related: NYC Mayor doubles down on crypto push ahead of city summit

Adams’ continued push for crypto-friendly policies underscores his commitment to transforming New York into a global hub for the digital asset industry.