New York City Establishes Digital Assets Advisory Council to Bolster Crypto Hub Ambitions

Mayor Eric Adams has unveiled plans for a Digital Assets Advisory Council, positioning New York City as a future epicenter of blockchain innovation. The initiative targets fintech job creation and investment inflows, with explicit ambitions to crown NYC the "crypto capital."

Municipal blockchain applications under exploration include digitizing vital records like birth certificates and death notices, alongside enabling cryptocurrency payments for city services. The administration frames this as a rehabilitation of crypto’s reputation—Adams emphasized the sector had been unfairly "demonized" and now warrants institutional recognition.

Policy recommendations and council leadership appointments are expected within weeks, following the announcement at Gracie Mansion’s inaugural NYC crypto Summit. The move signals growing institutional validation of digital assets, though specific cryptocurrency integrations remain undefined.