New York City Mayor Eric Adams has taken aim at former Governor Andrew Cuomo’s approach to cryptocurrency regulation, setting the stage for a high-stakes Democratic primary vote.
Speaking at the Permissionless conference in Brooklyn, Mayor Adams sharply criticized Cuomo’s record, claiming his administration “dismantled and destroyed the industry” through misguided policies. Adams described the former governor’s actions as “wrong” and counterproductive for digital asset innovation in the state.
A Pro-Crypto Agenda for the City
Running for re-election as an independent, Adams laid out a detailed crypto strategy:
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Establishing a City Crypto Council to advocate for digital asset policy in Albany.
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Introducing crypto-based payment options for city services.
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Implementing blockchain education programs in New York City schools.
“I think in the first 120 days, the number of bills that went through the federal level to deal with this issue is extremely impressive,” Adams said, referring to Congress’s recent momentum on stablecoin and crypto market regulation. “Now you’re seeing cities and states picking up the same energy.”
Primary Race: Cuomo’s Return and Adams’ Challenge
The mayor’s comments come as Democratic voters prepare to cast ballots in a heated primary where Andrew Cuomo is seeking a political comeback. Despite resigning in 2021 amid sexual misconduct allegations, Cuomo has surged in recent polls, leading over progressive challenger Zohran Mamdani.
Adams, once a Democrat, is now campaigning as an independent and may face off against Republican candidate Curtis Sliwa — his rival in the 2021 mayoral race — as well as the Democratic nominee in the general election this November.
Bitcoin Paychecks and Policy Controversies
Adams, who famously accepted his first three mayoral paychecks in Bitcoin, confirmed at the conference that he still holds the funds. His crypto-friendly stance has made him a rare advocate in mainstream politics.
New York City is the world capital of finance, and we’re going to be the world capital of blockchain and crypto too!
Thank you to the Permissionless IV conference for inviting me to share our vision. pic.twitter.com/ljSAmKD2ul
— Mayor Eric Adams (@NYCMayor) June 24, 2025
Among his more ambitious proposals is a Bitcoin-backed municipal bond, which has drawn scrutiny. City Comptroller Brad Lander called the idea “legally dubious and fiscally irresponsible,” but Adams suggested he is seeking ways to circumvent political resistance.
Legal Troubles and Political Intrigue
Adams’ administration has faced legal scrutiny, particularly regarding alleged illegal campaign donations from Turkish sources. The situation escalated when Trump-appointed Justice Department officials intervened, prompting resignations and raising concerns about politically motivated actions behind the scenes.
What’s Next?
With New York City’s financial sector watching closely and national crypto legislation in flux, Adams’ remarks underscore the growing role of local leaders in shaping digital asset policy.
Whether his pro-crypto message resonates with voters remains to be seen — but one thing is clear: crypto is now a key political battleground in New York City.
