A bold move at the end of term
As his term approaches, New York Mayor Eric Adams announces the creation of an Office of Digital Assets and Blockchain Technology, the first municipal body of its kind in the United States. This decision is part of his strategy to make the city a major centre for crypto and digital innovation.
Organisation and objectives of the new office
- The office will report directly to the mayor and be led by blockchain policy expert Moises Rendon, who has been appointed to lead the organisation.
- Its mission: to accelerate the establishment of crypto industry players in New York City, coordinate public blockchain-related initiatives, and serve as a bridge between the city, technology companies, and regulators.
- An advisory board of digital asset executives will be formed to guide the work and define strategic directions.
A pro-crypto token policy
The launch of this office is part of a stated desire to strengthen New York’s attractiveness for the blockchain sector. For several years, Mayor Adams has made numerous bold gestures: accepting his salary in cryptocurrencies, criticising the strict local regulation (BitLicense), proposing the integration of blockchain into the management of civil status documents, and launching a digital advisory council.
Uncertainties after the announced departure
Despite this initiative, the future of the project remains fragile. Adams has announced that he will not seek a second term, casting doubt on the continuity of the city’s crypto policies. The absence of a successor clearly committed to digital assets raises questions about whether the city will stay the course.
Some observers believe that the new administration could redirect priorities or even abandon the blockchain ambitions that had already been initiated. Others see this office as a symbolic legacy that could last, but whose impact will depend heavily on the political will of the next elected officials.
Issues to watch
- Institutional support: For the office to have real power to act, municipal and state legislators will need to agree to support it.
- Balanced regulation: Finding the right balance between oversight, user protection, and encouraging innovation.
- Attracting talent and capital: The office will need to create incentives for startups, investors, and researchers in the crypto sector.
- Political sustainability: Without a lasting political consensus, the office could lose its influence or be reduced.
Conclusion
With this initiative, New York is making a bold gamble: institutionalising a municipal role around blockchain even before a change of mayor. If the office fulfils its promises and its successors give it the means to act, the city could consolidate its position as a bastion of crypto innovation. Otherwise, this creation could remain more symbolic than structural.
