NYC Mayor Adams Establishes First City Office for Digital Assets

New York City Mayor Eric Adams signed an executive order Tuesday creating the Office of Digital Assets and Blockchain, marking what officials described as the first mayoral office of its kind in the nation. The new entity will coordinate efforts between the cryptocurrency industry and government to position the city as a hub for compliant blockchain initiatives.

Moises Rendon, who has served as a digital assets and blockchain policy adviser for the city since April 2024, will lead the newly established office. The office will report directly to New York City's Chief Technology Officer Matthew Fraser and work alongside the city's Office of Technology and Innovation.

Adams emphasized the city's historical role as an innovation center in his statement announcing the initiative. The mayor stated that the age of digital assets presents opportunities to expand the economy, attract world-class talent, provide services to underbanked communities, and improve government accessibility for residents.

Office Responsibilities

The office will develop strategies to strengthen New York City's position as a digital asset hub. Responsibilities include advising the mayor on policies and legislation while coordinating with federal and state governments to advance frameworks that welcome blockchain and crypto initiatives that comply with existing laws and regulations.

Mayor's Crypto Advocacy

During his tenure, Adams has positioned himself as a prominent crypto advocate among major city leaders. He famously accepted his first three paychecks in Bitcoin after winning the mayoral race in 2021 and later spearheaded the city's inaugural crypto summit to engage with industry stakeholders.

The mayor has also established a digital advisory council, proposed Bitcoin-backed bonds for the city, and publicly criticized New York's BitLicense program as excessively restrictive. These initiatives have made him a recognizable figure within the cryptocurrency community during his time in office.

Upcoming Election

Adams announced last month he would not seek reelection, citing campaign finance challenges and persistent media speculation as primary factors in his decision. His current term concludes on Dec. 31, 2025, giving the new office roughly three months under his administration before the next mayor takes office.

The Nov. 4 election features independent candidate and former Governor Andrew Cuomo alongside Democratic candidate Zohran Mamdani as frontrunners. Mamdani, leading in polls after Adams withdrew, has previously supported stronger consumer protections on stablecoins in New York while criticizing Cuomo's advisory role with crypto exchange OKX.