New York's Mayor Eric Adams has a daring plan to make the city a leader in cryptocurrency by introducing Bitcoin Bond (Bitbond), a new type of city bond supported by digital gold. He shared this idea at the Bitcoin 2025 Conference in Las Vegas, sparking excitement among DeFi fans. Adams believes a Bitcoin Bond could assist the city to become the "crypto capital" and generate new tech jobs and investments. He has even framed a digital advisory council to investigate how this innovation could function smoothly. But not everyone agrees with his idea, especially Brad Lander, the NYC's Comptroller, who thinks it's risky and not allowed under current laws.

The Comptroller, who helps manage the NYC's finances, thinks using peer-to-peer cash for public money could hurt trust in the city. He labelled the Bitcoin Bond plan "legally dubious and fiscally irresponsible". He stated that U.S. Tax laws don't allow these bonds to be used for buying cryptocurrencies like BTC or make more money than what the federal government provides for such bonds. Lander also mentioned that NYC can only make use of this to pay for roads, schools, and sewers, and only in U.S. dollars, not peer-to-peer money. He expressed concerns that using a risky asset like BTC could scare away people who usually buy city bonds, making it harder to fund important projects.

Politics and Digital Cash Are Mixing Fast

This debate is happening while both Adams and Lander are running for mayor in the 2025 New York City mayoral election going to take place in November. Crypto has become a hot topic for politicians. Even U.S. President Donald Trump is promoting it greatly, he also has established a Strategic Bitcoin Reserve. Many political leaders are now showing up at such conferences. Mayor Adams has liked crypto since he first ran for mayor in 2022. To show his support, he took his first three paychecks in BTC and Ethereum. He wants to make New York a city that welcomes and uses virtual currency.

NYC's DeFi Future and What’s Next

The debate over the Bitcoin Bond shows how decentralised currencies are becoming an important topic in politics. Vice President J. D. Vance and Cynthia Lummis are talking at crypto events, showing that more people are starting to notice and accept digital money like DeFi. Despite pushback, Adams isn’t giving up. His team just formed a advisory council to study how a Bitcoin Bond could work. Cities everywhere are exploring virtual money and blockchain, and trends like AI in crypto, stablecoins in global payments, and Gold 2.0 ETFs are gaining traction. Mayor Adams wants New York to be the first and best in this changing world when it comes to digital cash acceptance. While some leaders like Lander worry about risk, others see a big opportunity. Whether the bond goes forward or not, crypto is becoming part of New York’s future.