New York City Mayor Establishes Office of Digital Assets
New York City Mayor Eric Adams has officially signed an executive order to create the Office of Digital Assets and Blockchain Technology. This new initiative will be led by Moises Rendon, who has been part of the NYC Office of Innovation and Technology since 2024. As Adams prepares to exit office in January after concluding his reelection campaign in late September, this move marks a significant addition to his pro-cryptocurrency agenda.
New Office Aims to Position NYC as a Leader in Digital Assets
The newly formed office will be situated within the mayor’s office and directed by an appointee designated by Mayor Adams, who will report directly to the city’s chief technology officer. In a post on social media platform X, Adams expressed his vision, stating, “Our first-in-the-nation Office of Digital Assets and Blockchain will help make us the global capital of digital assets. This new mayoral office is going to help us stay ahead of the curve, grow our economy, and attract world-class talent.”
Immediate Action to Foster Growth in Digital Assets
Following the signing of mayoral executive order #57, the Office of Digital Assets and Blockchain Technology is set to immediately promote the expansion of digital assets and blockchain technologies in New York City. The office will also aim to foster investment from the cryptocurrency sector into the city. Press secretary Kayla Mamelak Altus noted, “While we’ve been planning to launch this office for months, we wanted to make sure we got this right and interviewed extensively to fill the role of executive director prior to this announcement.”
Leadership of the Office by Moises Rendon
To head the new office, Adams has appointed Moises Rendon, who has previously served as a digital assets and blockchain policy advisor. Since 2024, he has been part of the New York City Office of Innovation and Technology. Under Rendon’s guidance, the office plans to establish a commission composed of digital asset experts to steer its initiatives. “Mayor Adams’ creation of this new office proves that the future is now for digital assets and blockchain in New York City,” Rendon remarked. “I am honored to lead the nation’s first municipal office dedicated to successfully and responsibly deploying these technologies.”
Continuing Efforts to Make NYC the “Crypto Capital of the World”
The establishment of the Digital Assets Office follows Adams’ introduction of a digital assets advisory group in May, which was similarly aimed at attracting investment and talent from the cryptocurrency industry to New York City. During that announcement, the mayor hinted at the potential use of blockchain technology for maintaining birth and death records, among other applications. Adams is also known for accepting his initial paychecks in Bitcoin and Ethereum back in 2022, earning him the nickname “Bitcoin Mayor.” Since then, the values of both cryptocurrencies have increased significantly, prompting Adams to challenge skeptics with remarks like, “Who’s laughing now?”
Future of Cryptocurrency Regulation in NYC
In May, Adams advocated for the elimination of New York’s BitLicense, a regulatory requirement known for its stringent compliance rules. As his term approaches its end on January 1, he will not be pursuing reelection, having withdrawn from the race in late September. Current predictions indicate that Zohran Mamdani has an approximately 88% chance of winning the upcoming November election, which would position him to take office in January. In contrast, former Governor Andrew Cuomo has the next highest likelihood of around 10%.
