The mayor of Novel York Eric Adams says that he will ensure that Bitcoin Bond will be introduced to the market in the city and renewed his call to the Bitlicense program in Novel York.
Speaking at the Bitcoin 2025 conference, Adams promised support and support the creation of municipal bonds supported by Bitcoin (BTC).
“We have financial instruments for all other bonds. You can have tax-exempt bonds and other bonds. It is time for the first time in the history of this city to have a financial instrument created for those who are Bitcoin owners,” he said.
“I believe that we must have bitbond, and I intend to push and fight for Bitbond in New York so that you can make the same bond investments in New York.”
Adams did not provide details about Bitbond; However, a brief article from March 31 from the spokeswoman of The Bitcoin Policy Institute proposed A model in which holders receive an annual interest rate of 1% for 10 years.
When the bond matures, the owners also receive the percentage of profits from the Bitcoin market. At the same time, 90% of funds collected by bonds are allocated to government expenditure, and 10% is used to buy Bitcoin, According to for the Bitcoin Policy Institute Institute.
Adams pushes to AX Bitlicens again
Adams also called on to repeal the Novel York Bitlicense program, which the state launched in 2015 and requires cryptographic companies to apply for a license at the Department of Financial Services in Novel York and meeting strict conformity standards.
The Bitlicense program received criticism from the industry, and Adams also said that the agent is too costly with high license fees and is too strict in the washing of prevention of washing and knowing its funds of customers.
“You have a mayor who is a cryptographic mayor, he is the mayor of Bitcoin and I want you to return to the city of New York, where you will not be attacked and criminalized,” he said.
“Let’s get rid of the Bitcoin license and let us have a free Bitcoin flow in our city.”
Related: The mayor from Novel York doubles the cryptographic push before City Summit
The Circle of the Issuer Stablecoin USD was one of the first cryptographic companies that received Bitlicens; Since then, others, including Crypto Exchange Coinbase and the Bakt trading company.
Adams actively pressed to attract cryptographic companies to Novel York. As part of his recent efforts, Adams told the inaugural cryptographic summit in Novel York on May 20 that he was creating a digital advisory council to attract jobs and investments.
Meanwhile, on May 12, Adams announced that Financial Services company and Private Equity Firms Traction and Scale would facilitate the city in its cryptocurrency efforts.
Warehouse: Crypto City: Novel York guide
