New York City Mayor Proposes Issuance of Bitcoin Municipal Bond 'BitBond' Concept

BlockBeats News, May 29th, according to CoinDesk's report, New York City Mayor Eric Adams called for the abolishment of the BitLicense cryptocurrency licensing system issued by the New York State Department of Financial Services (NYDFS) at the Bitcoin 2025 conference, and proposed the concept of issuing a Bitcoin municipal bond called "BitBond."

Adams stated: "Let's abolish the BitLicense and allow Bitcoin to freely circulate in New York," and pledged to push for the creation of municipal bonds backed by Bitcoin. According to a proposal released by the Bitcoin Policy Institute in March, 90% of the funds raised by such bonds will be used for government expenditures, 10% will be used to purchase Bitcoin, bond holders will receive a 1% annual interest rate, and some Bitcoin appreciation gains.