NYC Mayor Adams launches first-ever city office for digital assets and blockchain

New York City Mayor Eric Adams signed an executive order creating an office focused on digital assets and blockchain, marking the "first-ever mayoral office of its kind in the nation."

The new office would encourage the responsible use of digital assets and blockchain technology, according to the executive order signed on Tuesday. The office will be led by Moises Rendon, who has worked for the city on digital assets for over a year. 

"Our city has always been the center of innovation, and we’re embracing the technologies of tomorrow today," Adams said in a statement. "The age of digital assets is here, and with it comes the chance to grow our economy, attract world-class talent, expand opportunities for underbanked communities, and make government more user-friendly."

The Office of Digital Assets and Blockchain will look to coordinate efforts between the crypto industry and government and work with the federal and state governments on pushing policies that make New York City increasingly "welcoming to blockchain and crypto initiatives that add value and comply with laws and regulations." The office will also look to attract talent to ensure that the city continues to be competitive when it comes to financial innovation. 

During his time as mayor, Adams has been very pro crypto as he took his first three paychecks in Bitcoin and spearheaded the city's first crypto summit.

Adams' term ends at the end of the year, as he dropped out of the mayoral race last month, citing campaign finance woes and media speculation as his main reasons for suspending his campaign.