On October 14, New York City Mayor Eric Adams announced the creation of the very first city office of its kind – a dedicated hub for digital assets and blockchain tech.
As he puts it himself, the new Digital Assets and Blockchain Office will help New York City become a frontrunner in financial innovation and even attract some top talent from around the world in the process.
Currently, New York has some of the toughest digital asset rules in the U.S., focusing on strict licensing, transparency, and consumer protection.
The new Office of Digital Assets and Blockchain Technology was born out of Executive Order 57, which Adams signed on October 14. The new office will be reporting directly to the city’s Chief Technology Officer, Matthew Fraser, and it’s a part of the Mayor’s Office.
“This new mayoral office is going to help us stay ahead of the curve, grow our economy, and attract world-class talent,” Adams said in a post on X. “Our first-in-the-nation Office of Digital Assets and Blockchain will help make us the global capital of digital assets.”
The office will be run by Moises Rendon, a digital assets and blockchain policy expert, who has been advising the city since 2024.
His main goal will be to make sure the city is always at the forefront with blockchain innovation, to connect government agencies with the private sector, and coordinate the city’s efforts on blockchain innovation.
Rendon said he was deeply honored to be taking on this role, calling it a “historic moment for New York City”. He also made it clear that the new office will be about helping people understand and benefit from new technology while keeping things safe and in check.
According to that same executive order, this new office will be focused on four main goals:
- Develop a plan to make New York the go-to place for digital assets and blockchain innovation.
- Help out with policy and legislation that will make sure these new technologies are being used responsibly.
- Work closely with the Office of Technology and Innovation (OTI) and the New York City Economic Development Corporation (EDC).
- Launch some public education campaigns to help residents get a handle on digital assets and stay safe from scammers.
On top of all that, officials say the office will also be working hard to open up more economic opportunities for people who might be left out, particularly underbanked communities, and build public trust in all this new financial tech.
New York Mayor Adams has long been a top proponent for digital-asset-friendly policies in the United States. He made headlines in 2022 by accepting his first three paychecks in bitcoin and ethereum – earning him the nickname “Bitcoin Mayor” in the process.
He technically couldn’t receive his $258,000 annual salary in digital assets, so he set up a process with Coinbase that automatically converted his 3 paychecks into digital assets once they were paid in U.S. dollars.
During his time in office, Adams has shown his commitment to digital assets by launching a Digital Assets Advisory Council.
The council hosted the city’s first-ever digital asset summit. He also pushed for reforms to New York’s strict BitLicense program – a move that many in the industry view as a major barrier to innovative thinking.
“Our city has always been the center of innovation, and we’re embracing the technologies of tomorrow today,” Adams said.
“The age of digital assets is here, and with it comes the chance to grow our economy, attract world-class talent, expand opportunities for underbanked communities, and make government more user-friendly.”
Those who back the move say the new office will give Bitcoin and blockchain companies a single point of contact in the city government to reach out to when they need help, something that didn’t exist before.
