Eric Adams Invites Crypto Companies to Build in NYC

New York City Mayor Eric Adams is once again urging cryptocurrency companies to make the city their base of operations, offering strong support for the digital asset industry and promising to make New York a friendlier environment for crypto innovation.

Speaking at a press conference at Gracie Mansion on Monday, Adams called on both returning and expanding crypto businesses to plant roots in New York, stating, “This is the Empire State. We should be building empires — especially in the crypto space.”

The mayor’s remarks come as he ramps up his reelection campaign and doubles down on his earlier commitment to establish New York City as a global hub for blockchain-based finance and technology.

NYC’s First-Ever Crypto Summit Set for Next Week

In a concrete step toward that vision, Adams announced the city’s inaugural Crypto Summit, set to take place next week. The event will bring together municipal leaders, regulators, and crypto industry executives to discuss how digital assets can be integrated into city governance and economic development.

The summit comes on the heels of the White House Digital Asset Summit held in March and is expected to focus on:

• Policy collaboration between local government and crypto companies

• The use of blockchain to streamline government services

• Inclusion of underbanked communities in the digital financial system

• Job creation and economic growth through crypto innovation

Adams described the summit as a platform for serious dialogue — not hype — emphasizing his administration’s focus on “long-term value, not chasing memes or trends.”

Adams Softens Tone on BitLicense

The state’s crypto regulations remain one of the biggest hurdles for companies looking to enter the New York market. The BitLicense, issued by the New York Department of Financial Services (NYDFS), has long been criticized as one of the most restrictive licensing frameworks in the country.

Adams previously advocated for scrapping the BitLicense altogether, arguing it discourages innovation. However, on Monday, he struck a more balanced tone, stating that safety and oversight are necessary — but must not come at the cost of growth.

“It’s good to know the city will have safe regulations for investors,” Adams said. “But we must avoid overregulating to the point that we drive innovation away.”

The mayor’s updated stance suggests a willingness to work with state regulators rather than opposing them outright, signaling a more collaborative approach moving forward.

Legal Troubles Resolved, Adams Refocuses on Tech-Driven Growth

Earlier this year, corruption charges brought against Adams by federal prosecutors were dismissed with prejudice, clearing him of any wrongdoing and barring the case from being reopened. The case’s resolution, which followed resignations by several career prosecutors, has allowed Adams to refocus his political energy on economic development.

With the legal cloud lifted, the mayor is now putting renewed emphasis on tech, fintech, and crypto as key pillars of the city’s post-pandemic recovery.

Crypto as a Tool for Economic Inclusion in NYC

While major crypto firms may grab headlines, Adams highlighted a broader goal: using blockchain and digital asset tools to help communities that have been excluded from traditional financial systems.

“We’re creating an ecosystem that brings in talent and investment,” Adams said, “but also serves neighborhoods like the Bronx and Harlem — areas that deserve access to financial growth.”

The administration plans to work with crypto platforms and fintech startups to develop solutions that offer better banking access, faster payment systems, and financial education programs for underserved populations.

Policy, Adoption, and Public Trust

Adams’ push to position New York City as a digital asset capital comes at a time when crypto regulation is under intense national and global scrutiny. With rising interest from traditional finance, ongoing legal debates about crypto classifications, and a volatile market, the next phase of crypto growth will require strong public-private cooperation.

The success of the upcoming Crypto Summit may set the tone for that collaboration. If New York can strike the right balance between regulation and innovation, the city could offer a blueprint for integrating blockchain into modern urban governance.

As Adams put it: “We’re not just opening the door to crypto companies. We’re building a city where they — and our residents — can thrive.”

Also Read: NYC Mayor Eric Adams Might Face More Charges in Corruption Case