New York City Establishes Nation’s First City-Level Crypto & Blockchain Office

• Moises Rendon will lead the office of digital assets and blockchain and coordinate between the digital asset industry and New York City agencies.
• A key focus of the office will be promoting financial inclusion, particularly for unbanked and underbanked communities.

Eric Adams, the mayor of New York City, has signed an executive order to build an office that focuses on digital assets and blockchain. This marks the “first-ever mayoral office of its kind in the nation.”

The goal behind launching this new office is to promote responsible blockchain innovation, attract fresh talent, and at the same time boost New York’s position as a fintech hub. It also aligns with Mayor Eric Adams’ vision of integrating crypto policy and public governance.

Moises Rendon, who has spent more than a year working with the city on digital asset initiatives, will be heading the office. Speaking on the development, New York mayor Eric Adams said:

The latest development comes as New York State plans to impose additional taxes on crypto mining operations. New York legislators have introduced bill S.8518, aiming to impose a tax on cryptocurrency mining operations. The legislation focuses on two main goals: addressing climate change and lowering energy costs, as reported by CNF earlier.

New York City Launches Office of Digital Assets and Blockchain

New York City’s newly established Office of Digital Assets and Blockchain aims to drive long-term economic growth by ensuring digital assets contribute positively to the city’s economy. The office will act as a bridge between the digital asset industry and city government, coordinating efforts to encourage responsible innovation and alignment among stakeholders.

Working closely with the New York City Office of Technology and Innovation (OTI), the office will ensure citywide policies, services, and digital asset initiatives are aligned across agencies. The office will also engage with state and federal partners to promote policies that make New York more welcoming to blockchain and crypto initiatives. Furthermore, these policies will be in tune to comply with regulations and add economic value.

The Digital Assets office of New York City will focus on promoting inclusion and access for unbanked and underbanked communities. Thus, it will also support safer financial solutions, resource access, and resilience against inflation.

During his tenure as mayor, Adams has shown strong support for crypto, taking his first three paychecks in Bitcoin and leading the city’s inaugural crypto summit.