NYC Launches ‘Nation’s First-Ever Municipal Office Of Digital Assets And Blockchain’ Following Executive Order
New York City is making a major move in the Bitcoin and cryptocurrency space.
According to a press release, the city has created the New York City Office of Digital Assets and Blockchain to solidify its positioning as the “world’s hub for financial and technological innovation.” This resulted from Executive Order 57 — signed by New York City Mayor Eric Adams on Oct.14 — and is the first mayoral office of its kind.
“From day one, our administration has kept New York City ahead of the curve because when we embrace technology, we deliver a safer, more affordable city,” said Mayor Adams in the press release.
“In 2022, I became the first American mayor to convert my first three paychecks into crypto, and this past May, our administration hosted the first-ever crypto summit at Gracie Mansion. Today, with the nation’s first mayoral agency focused solely on digital assets and blockchain technology, we continue to signal the opportunities this new form of technology can bring to New York City. Our city has always been the center of innovation, and we’re embracing the technologies of tomorrow today,” he continued.
The office will provide educational opportunities to New Yorkers, ensuring the responsible use of digital assets, such as cryptocurrency and blockchain technologies. These opportunities will help ensure that the public are informed about digital assets’ protections and risks, empower unbanked and underbanked communities on pathways to combat inflation, and attract global talent in the financial and technology space.
“With the launch of the New York City Office of Digital Assets and Blockchain, New York City is reaffirming its role as a leader in the financial and technology sectors to ensure that working-class New Yorkers are first in line for game-changing economic opportunities of the future and efficient delivery of government services,” First Deputy Mayor Randy Mastro expressed, according to the news release.
Moises Rendon, former director of the Washington, D.C. office of the Americas Society/Council of the Americas, has been tapped to serve as executive director of the Office of Digital Assets and Blockchain. His earliest task is to gather leaders to inform the office’s work. Key collaborators will include the New York City Office of Technology and Innovation (OTI).
“Mayor Adams’ creation of this new office proves that the future is now for digital assets and blockchain in New York City,” said Rendon in a news release.
“I am honored to lead the nation’s first municipal office dedicated to successfully and responsibly deploying these technologies. I look forward to collaborating with CTO Fraser, city agency partners, and private-industry leaders to develop policies and programs that make our government more accessible, transparent, and innovative for New Yorkers in the years ahead,” he added.
