At the heart of the Bitcoin 2025 conference, New York City Mayor Eric Adams once again put his full weight behind the digital asset movement—this time with a bold call to repeal one of the most contentious crypto regulations in the United States: the BitLicense. Speaking with the energy and conviction of a true believer, Adams painted a vision of New York as not just the financial capital of the world, but also a global beacon for Bitcoin and blockchain innovation.
“I’m not here to regulate you into extinction,” Adams told a packed crowd of developers, investors, and advocates. “I’m here to tell you: it’s time to come back to New York. This is your city too.”
Adams, known in crypto circles as the “Bitcoin Mayor,” made headlines when he took his first three paychecks in Bitcoin and Ethereum back in 2022. Now, with the industry facing increasing scrutiny from regulators and lawmakers, he’s doubling down—calling for the abolition of the BitLicense, a regulatory framework introduced in 2015 that many in the crypto space say has stifled innovation in the Empire State.
“Let’s eliminate the BitLicense,” Adams declared. “Let’s create a city where crypto can thrive without fear or friction.”
The BitLicense, introduced by the New York Department of Financial Services (NYDFS), was meant to bring oversight and consumer protection to an emerging market. But for many crypto entrepreneurs, it has become a costly and burdensome barrier to entry. Applying for the license can cost tens of thousands of dollars, requires strict compliance, and is seen by critics as a deterrent to startup growth.
In his address, Adams framed his appeal in historical and patriotic terms. Drawing a parallel between the early American revolutionaries and today’s Bitcoin advocates, he likened the Bitcoin movement to Betsy Ross stitching the first American flag—ordinary people laying the foundation for something revolutionary.
“Betsy Ross wasn’t a philosopher or a regulator,” Adams said. “She was a working-class woman who contributed something iconic. Bitcoin is just like that—it’s about everyday people building a better future.”
The mayor’s remarks come on the heels of the inaugural New York Crypto Summit, an event he hosted to help strengthen the city’s role in the digital economy. There, he announced the creation of a digital assets advisory council—a move aimed at boosting local jobs and attracting blockchain talent and investment.
Beyond rhetoric, Adams also floated ambitious ideas, including the introduction of a “Bitcoin Bond” that could signal a new kind of municipal financing strategy aligned with digital asset growth.
But the mayor was quick to point out that speeches and conferences aren’t enough. “The real work begins after this event,” he said. “Go back home. Get involved in your local government. Let lawmakers know this industry matters to you.”
He emphasized that the battle for crypto-friendly legislation won’t be won in auditoriums or on Twitter—but in city halls, statehouses, and ballots.
“Use your voice,” Adams urged. “If you don’t show your strength as a community, others will use their power to silence you.”
His final message was clear and urgent: New York must lead the next chapter of the digital revolution, and the crypto community must take the reins—through advocacy, education, and participation.
Whether Adams can rally the political support to overturn the BitLicense remains to be seen. But one thing is certain: he’s not backing down from his vision of New York as the crypto capital of the world.
