OFFICE OF DIGITAL ASSETS AND BLOCKCHAIN TECHNOLOGY
WHEREAS, the growth of digital assets and blockchain technology in the United States has accelerated rapidly over the past decade, driven by increased institutional adoption, regulatory developments, and innovations in decentralized finance and tokenization; and
WHEREAS, digital assets are digitally represented units of value that can be owned or transferred using cryptographic systems, commonly known as cryptocurrency, using blockchain technology as a decentralized ledger to record and verify the transaction of digital assets; and
WHEREAS, New York City is the economic hub of the United States and considered the financial capital of the world; and
WHEREAS, many long-established financial institutions as well as start-up businesses are increasingly offering cryptocurrency-related services such as custody, trading, and investment products; and
WHEREAS, New York City is committed to continuing to serve as the global financial capital by fostering an environment that encourages businesses to start and expand their financial operations within New York City; and
WHEREAS, the City seeks to coordinate efforts between the digital asset and blockchain technology industry and the government, serving as a bridge to advance responsible innovation and alignment across stakeholders;
NOW, THEREFORE, by the power vested in me as Mayor of the City of New York, it is hereby ordered:
Section 1. There is established an Office of Digital Assets and Blockchain Technology within the Office of the Mayor. Such Office shall be headed by an executive director appointed by the Mayor who shall report directly to the Chief Technology Officer (“CTO”).
§ 2. The Office shall:
a. Support the growth of the digital asset and blockchain technology industry in New York City by developing strategies to strengthen the City’s role as a hub for the industry, including by studying and advising the Mayor’s Office on opportunities for policy or legislative changes that will continue to allow the City to attract world-class talent and to foster the responsible expansion of the industry in the City. The Office shall also liaise with the Deputy Mayor for Intergovernmental Affairs to advance such policies or legislation.
b. Encourage investment in New York City by the digital asset and blockchain technology industry in coordination with the New York City Economic Development Corporation.
c. Continuously evaluate new digital assets and develop initiatives that educate the public on and encourage responsible use of these digital assets in accordance with applicable law.
d. Work in close collaboration with the Mayor’s Office of Technology and Innovation and CTO to coordinate efforts across agencies to ensure alignment of policies, services, and digital asset initiatives.
§ 3. This Order shall take effect immediately.
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Eric Adams
Mayor