NYC to Host First Crypto Summit as Adams Pushes Bold Vision

New York City is taking a major leap toward becoming a global leader in digital finance. Mayor Eric Adams officially announced the inaugural NYC Crypto Summit, scheduled for May 20, as part of a broader push to position the city as the “crypto capital of the world.”

Standing alongside blockchain leaders like June Ou of Figure and Richard Hecker of Traction and Scale, Adams emphasized that the summit will bring together industry innovators, city officials, and regulators to chart the future of digital assets. Topics on the agenda include proposals for a state-owned Bitcoin reserve and overhauling regulatory frameworks for crypto businesses operating in the state.

“The Empire State should be building empires,” Adams said. “And crypto is where we start.”

The move signals a proactive stance from the Adams administration at a time when federal policymakers are only beginning to warm to the crypto sector. Adams, however, is no newcomer. He famously took his first three paychecks as mayor in Bitcoin and Ethereum in 2022, a decision that once raised eyebrows but now underscores his long-term commitment to blockchain technology.

Adams views crypto as a means to broaden financial inclusion, particularly for communities historically excluded from traditional systems. “My mission is to ensure that New York leads in innovation,” he stated. “And crypto is part of that future.”

Despite New York’s reputation for tough crypto regulations, Adams is betting on a new era of reform. He has pledged to make compliance easier for crypto companies and hinted at legislation modeled after New Hampshire’s Bitcoin Reserve law. His message to startups and investors is clear: New York is open for crypto business.

The political context adds another layer of intrigue. Adams recently announced he will run as an independent in the upcoming mayoral election, bypassing the Democratic primary amid the fallout from a past corruption probe that was ultimately dropped. His crypto-forward platform could resonate with voters attracted to the kind of pro-innovation stance seen in national figures like Donald Trump.

Still, Adams insists the push is not about hype or speculative coins. “This isn’t about memes,” he said. “It’s about real innovation, fair rules, and building something that lasts.”

With the upcoming NYC Crypto Summit, Adams is hoping to transform New York from a traditional financial powerhouse into the epicenter of the global crypto revolution.