New York City is taking a bold step into the future of finance with the launch of a groundbreaking Digital Assets Advisory Council, Mayor Eric Adams announced Tuesday. This initiative aims to attract fintech jobs and innovation to the Big Apple, signaling that New York is “open for business” in the rapidly evolving world of digital assets.
During a summit held at Gracie Mansion, Adams emphasized the city’s commitment to leveraging cutting-edge technology to better serve its residents. “We want to use the technology of tomorrow to serve New Yorkers today,” he said. “We have top industry experts right here, ready to help us navigate solutions that benefit our city. We’re fortunate to have this incredible human capital right here in New York.”
The new advisory council will be comprised of industry leaders and experts, with the chairperson to be announced shortly. This move is part of New York’s broader strategy to position itself as a hub for blockchain, cryptocurrency, and fintech innovation.
The summit featured both a public press conference and private roundtables, drawing participants from family offices, unicorn startups, and seasoned industry veterans. One exciting proposal discussed was the potential to put birth and death records onto a blockchain, making it easier for families to access vital documents securely and efficiently.
Industry leaders like Andrew Durgee, co-CEO of Republic, shared their confidence in New York’s resilience. Despite regulatory concerns, Durgee said his firm has chosen to stay in New York, even as other companies consider relocating abroad. “For the first time in 15 years, we’re in a scenario where the future is uncertain,” Durgee explained. “But we see a lot of talented people coming back to the U.S., and they’re looking for a home. That’s why New York remains a top destination for fintech innovation.”
This initiative highlights New York’s proactive approach to embracing blockchain and digital assets, aiming to create a supportive ecosystem for startups and established players alike. With plans to integrate blockchain solutions into city records and foster a vibrant fintech community, the city is positioning itself at the forefront of the digital assets revolution.
Stay tuned as New York continues to develop its role as a leader in digital finance, attracting talent, investment, and innovation to transform the future of money and technology.
