The Bitcoin Mayor Calls for the End of the BitLicense in New York City

LAS VEGAS, Nevada — Eric Adams, the mayor of New York City, made a bold statement at Bitcoin 2025 in Las Vegas on Wednesday, calling for the end of the BitLicense.

Encouraging Crypto Businesses to Return to the U.S.

During his speech, Adams urged crypto businesses to come back to the U.S. and establish their presence in New York. This echoes his previous comments at the city’s first-ever crypto summit at Gracie Mansion, where he emphasized the city’s welcoming stance towards the industry.

“New York is the Empire State. We don’t break empires. We build empires. We’re saying to you, come back home,” Adams declared. “I’m the Bitcoin mayor, and I want you back in the City of New York, where you won’t be attacked and criminalized. Let’s get rid of the BitLicense and allow the free flow of bitcoin in our city.”

Criticizing the BitLicense

Adams has been a vocal critic of the BitLicense, a challenging license issued by the New York Department of Financial Services (NYDFS). While acknowledging the need for regulations to protect investors, Adams has expressed concerns about overregulation stifling innovation in the industry.

He also announced plans to advocate for the creation of a BitBond, a municipal bond backed by bitcoin. This innovative financial instrument could provide residents with tax-advantaged exposure to bitcoin while allowing the city to raise capital.

The Potential of BitBonds

The concept of BitBonds was outlined in a policy brief by the Bitcoin Policy Institute, proposing that 90% of the bond proceeds would fund government initiatives while 10% would be used to purchase bitcoin. Holders of the bond would receive annual interest and a share of bitcoin’s upside upon maturity.

Adams, who is running for re-election as an independent, is positioning himself as a proponent of cryptocurrency innovation and economic growth in New York City.