New York City Mayor Eric Adams has signed an executive order establishing the nation’s first municipal Office of Digital Assets and Blockchain, a move solidifying his administration’s commitment to the crypto sector amidst his withdrawal from a re-election bid.
The new office aims to promote the responsible use of blockchain technology and strengthen the city’s position as a global hub for technological innovation. It is designed to bridge the gap between government, the crypto industry, and state and federal regulators.
Moises Rendon, who has a year of experience working on digital asset initiatives within the municipal administration, will lead the office. His mission includes coordinating government efforts with the tech industry to foster innovation while ensuring regulatory compliance.
Adams hailed the measure as “the first of its kind in the nation.” He stated that the office represents “an opportunity to expand the economy, attract world-class talent and make government more accessible and efficient for all citizens.”
Throughout his tenure, Adams has been a vocal supporter of the crypto ecosystem. He famously received his first three salaries in Bitcoin and promoted the city’s first major cryptocurrency conference. These actions have positioned him as a leading pro-blockchain political figure in the United States.
The executive order comes at a time of political transition for Adams, who recently announced he would not seek re-election, citing campaign financing challenges and media pressure. Despite this, the creation of the Digital Assets and Blockchain Office underscores a key aspect of his legacy.
The new department is expected to work closely with private sector entities. It will facilitate the development of new blockchain-based projects, ranging from financial applications to initiatives aimed at government transparency.
A report by The Block suggests this initiative could serve as a model for other U.S. cities. Its success could consolidate New York’s standing as a premier financial and technological capital, extending its influence into the digital asset realm.
Beyond attracting investment and talent, the project also seeks to enhance financial inclusion. It aims to broaden access to digital services for underserved communities, aligning with Adams’ vision for a more equitable city.