Since 2021, Mayor Eric Adams has talked about how he is going Make New York City the center of the Crypto industryAlthough this has not been released. (Some Bitcoin and Crypto companies are located here, but this has little to do with the efforts of Adams – or the lack thereof.)
So when I heard the mayor that Bitbonds was published in New York City at Bitcoin 2025, I was far from convinced that this would actually happen.
And then when I read A statement from NYC Comptroller Brad Lander on the subjectIt became even clearer that Adams was only an attitude when it came to Bitbonds.
“New York City will not publish Bitcoin-stundled bonds on my watch,” Lander said in the explanation.
“Mayor Eric Adams may be willing to bet our future on crypto in exchange for a trip to Vegas, but it is my job to guarantee the financial stability of our city. Cryptocurrencies are not sufficiently stable to the infrastructure of our city, affordable homes or schools,” he added.
“The proposal that New York City should open its capital planning for crypto can expose our city to new risks and the confidence of the buyers of bonds in our city.”
In the statement, Lander further discussed how Bitbonds would work at the federal level (90% of the funds go to government spending, while 10% goes to buying Bitcoin for a strategic Bitcoin reserve), before an important difference notes between federal bonds and the bonds in New York.
“While the federal government issues bonds to finance traditional expenses, New York City mainly issues bonds to finance capital assets and in only very scary circumstances the city can finance other purposes,” Lander wrote.
Lander then went out for a number of other reasons why New York City will not easily give Bitbonds off, including “New York City should be able to take transactions in Bitcoin to give bonds supported by Bitcoin”, because “New York City has no mechanism in another valuta in another valuta in another valuta in another valuta in another valuta in another valuta in another valuta in another valutaa in another valutaa in another valutaa in Valutaa in another valutaa in Valutaa in an asseta valuta. currency. “
(If I read that correctly, Lander says that New York City does not know how to set up a Bitcoin wallet or exchange Bitcoin for American dollars. About the same footing for a chosen officer in New York.)
Take my cynicism here now, but I am a New Yorker – a resident of one of the most limited areas of law in the world when it comes to Bitcoin and Crypto, thanks to the Bitlicense – And there are two things that you can bet in New York at the moment.
- Mayor Eric Adams will have a good game about Bitcoin and Crypto, while he does not take action behind the scenes.
- Bureaucrats and chosen officials in New York will continue Throw cold water on everything that challenges the power of Wall StreetWhile he still claims that New York is the ‘financial capital of the world’. (Laughable.)
Mayor Adams can therefore make all the proposals he wants, from phases in Las Vegas to Crypto-top sponsored by NYC, but until I see his administration actually doing something substantial for residents of New York City, because it relates to Bitcoin and Crypto, I assume that New York will continue to stagnate financially.
This article is one To take. The expression of opinions are completely the author and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.