NYC Establishes Office of Digital Assets Ahead of Mayor Adams’ Departure
Mayor Eric Adams signs an executive order to establish NYC’s first cryptocurrency and blockchain department, with Moises Rendon appointed director to lead the initiative.
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Fact Check
The statement is fully supported by the evidence. Multiple credible sources, including the official NYC mayor's office website (nyc.gov) and various news outlets (The Block, Cointelegraph), confirm that Mayor Adams established the Office of Digital Assets. Furthermore, evidence from Financial Content and The Block confirms that Adams has exited his reelection bid and his term is ending, establishing that the office was created ahead of his departure.
Summary
New York City has launched its first dedicated cryptocurrency and blockchain department under an executive order signed by Mayor Eric Adams. Moises Rendon was appointed director, and an advisory committee of industry leaders will be established to guide the department's work. The city aims to strengthen its role as a global hub for blockchain innovation.
Terms & Concepts
- Cryptocurrency: A form of digital or virtual currency that uses cryptography for security and operates independently of a central authority.
- Blockchain: A decentralized and secure digital ledger system that records transactions across multiple computers.
- Executive Order: An official directive issued by a government leader to manage operations within their jurisdiction.