Eric Adams calls for Bitcoin bond in NYC, end to state BitLicense
New York City Mayor Eric Adams plans to launch a Bitcoin-backed municipal bond, referred to as a Bitbond, aimed at Bitcoin holders. He advocates for a financial instrument that allows investment in Bitcoin-backed bonds, proposing a model where holders earn 1% annual interest for ten years and receive a share of Bitcoin market gains upon maturity. Adams also seeks to repeal New York's BitLicense program, established in 2015, which mandates strict compliance for crypto businesses. He argues that the program imposes high costs and stringent regulations that hinder the crypto industry. Adams emphasizes his commitment to making New York a welcoming environment for crypto firms and has initiated efforts to attract investments and jobs in the sector.
