New York City to Establish Crypto Advisory Council Under Mayor Eric Adams

New York City Mayor Eric Adams unveiled plans for a digital asset advisory council during the NYC crypto Summit on May 20. The initiative aims to position the city as a global hub for blockchain innovation by attracting investment and creating jobs.

"We want to use the technology of tomorrow to better serve New Yorkers today," Adams declared, emphasizing the council’s role in cementing New York’s status as the "crypto capital of the globe." The group will comprise industry experts tasked with identifying public-interest use cases.

While details remain pending, Adams confirmed a chairperson appointment and forthcoming policy recommendations. The MOVE signals institutional recognition of cryptocurrencies’ economic potential, though no specific tokens or exchanges were directly referenced.