Mayor Adams aims to create a Bitcoin-backed bond, 'BitBond,' and eliminate the BitLicense to enhance New York's crypto landscape.
At the Bitcoin 2025 conference, NYC Mayor Eric Adams announced plans for a Bitcoin-backed municipal bond called 'BitBond,' while also advocating for the repeal of the BitLicense program. The BitBond would allocate 90% of funds for government spending and 10% for Bitcoin purchases, offering a 1% annual interest rate over ten years, plus potential market gains.