New York City Establishes the Nation’s First Municipal Cryptocurrency Bureau

On the 14th, Mayor Eric Adams of New York City signed an executive order to establish the city's Cryptocurrency and Blockchain Bureau, marking the first such municipal specialty bureau in the United States. This initiative positions New York as a global hub for cryptocurrency and blockchain technology. Moises Rendon has been appointed as the director of the bureau, and one of his first actions is to set up an advisory committee consisting of leaders in the cryptocurrency field.

Mayor Adams became the first mayor in the United States to convert his first three paychecks into cryptocurrency in 2022, and in May of this year, he hosted the first cryptocurrency summit at the mayoral residence, Gracie Mansion. The mayor is...