NYC’s Crypto Council: Will Blockchain Save the Big Apple or Just Add More Buzzwords?

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Darlings, gather round! Mayor Eric Adams, never one to let a trend pass him by, has declared that New York City shall have its very own digital advisory council. The goal? To sprinkle a little blockchain fairy dust over the city’s digital asset strategy. One can only hope it’s more effective than the subway Wi-Fi.

At the illustrious New York City Crypto Summit (where the only thing more inflated than the egos was the price of coffee ☕️), Adams waxed lyrical about attracting investment, creating jobs, and ensuring New York remains the global epicentre of blockchain innovation. Because if there’s one thing New Yorkers love, it’s being at the centre of absolutely everything—even if it’s just a virtual ledger.

“We want to use the technology of tomorrow to better serve New Yorkers today,” Adams proclaimed, presumably while checking his Bitcoin wallet. The council, he assures us, will help make New York the “crypto capital of the globe.” No pressure, then.

This soon-to-be-assembled brain trust will be packed with industry experts tasked with finding ways to use crypto for the public good. Details are still as elusive as a cab in the rain, but a chairperson will be appointed and policy recommendations are expected soon—so do keep your monocle polished.

Adams also revealed that blockchain could soon be used for managing sensitive records like birth and death certificates. “Bringing blockchain security capabilities to the city means that birth certificates and death records can remain private but accessible,” he noted, no doubt envisioning a future where even your grandmother’s knitting club is on the blockchain. 🧶

And because nothing says ‘modern city’ like paying your taxes in cryptocurrency, New York is considering letting you do just that. Financial services firm Figure and private equity groups Traction and Scale are already on board—because what could possibly go wrong?

Since donning the mayoral sash in January 2022, Adams has made crypto his signature dish—famously converting his first three paychecks into Bitcoin. Some call it visionary; others call it performance art. Either way, it’s certainly… something.

The crypto fever is catching at the state level too. Assembly member Clyde Vanel has reintroduced a bill to let agencies accept crypto for fines and taxes, and wants to study blockchain for election security. If passed, the State Board of Elections will have a year to report back—presumably after deciphering what blockchain actually is.

Meanwhile, State Senator James Sanders Jr. wants a task force to see how crypto could reshape New York’s economy. Because if there’s one thing politicians love more than buzzwords, it’s task forces.

And lest you think this is just a New York eccentricity, at least 18 states are exploring their own Bitcoin reserves. New Hampshire even let its treasurer invest public funds in Bitcoin—because nothing says fiscal responsibility like betting taxpayer money on internet magic beans. 🫘

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2025-05-21 09:44