While Washington is warming up to crypto, New York City’s Mayor Eric Adams is already a few steps ahead. On Monday, he officially announced the city’s first-ever NYC Crypto Summit, which will be held on May 20. The goal? Nothing short of making New York the crypto capital of the world.
NYC, the Crypto Capital of the World
Speaking at a press conference, Adams stood beside major players in the blockchain space, including June Ou from Figure and Richard Hecker from Traction and Scale. Together, they made it clear, NYC wants to lead the next big wave of digital finance.
Adams explained that blockchain technology could help bring more people into the financial system, especially those who’ve been left out for years. “My mission is to ensure that New York leads in innovation,” he said. “And crypto is part of that future.”
Adam further noted that the event will bring together crypto companies, regulators, and city leaders to discuss the future of digital assets. Key topics include the idea of a state-owned Bitcoin reserve and new rules for crypto businesses.
While the plans sound bold, some critics worry that New York’s strict regulations might hold the city back.
Adams’ Crypto Journey
He reminded everyone of his own history with digital assets back in 2022, he took his first three paychecks in Bitcoin and Ethereum, which at the time raised eyebrows.
Now, he says, the crypto world is booming, and New York is seeing a huge rise in startups joining the scene.
What makes this move more interesting is the political backdrop. Adams has decided to run as an independent in the upcoming election, skipping the Democratic primary due to a past corruption probe that was recently dropped.
Some believe his support for crypto could help him win over the same groups that backed Donald Trump’s pro-crypto stance.
No Hype, No Memes — Long-Term Vision
But Adams made it clear — this isn’t about hype or meme coins. He wants real innovation and clear but fair regulations. He said New York shouldn’t overregulate and risk losing the chance to lead.
“The Empire State should be building empires,” Adams said. “And crypto is where we start.”
Adams is trying to attract crypto companies by promising easier rules in New York. He also suggested the city might create a Bitcoin Reserve law, similar to one in New Hampshire.
With the upcoming summit, NYC is hoping to become more than just a financial hub, it wants to be the center of the crypto revolution.
