New York City establishes a dedicated office for digital assets and blockchain…"Positioning itself as a center of innovation"

New York City has launched the first official municipal office among local governments in the United States dedicated to digital assets and the blockchain industry.

According to The Block on the 14th (local time), New York City Mayor Eric Adams signed an 'Executive Order establishing the Office of Digital Assets and Blockchain' and said, "New York will become a center for a regulated digital asset industry." He said, "New York has always been a center of innovation, and today we are embracing the technology of the future," and "the era of digital assets will be an opportunity to drive economic growth, expand financial access, and improve administrative efficiency."

The newly established office will oversee New York City's digital asset policy and aims to promote the responsible use of blockchain technology and the development of related industries. The office will strengthen cooperation between the cryptocurrency industry and the city government and will pursue blockchain projects that comply with regulations in coordination with federal and state governments. It will also focus on attracting professional talent so that New York can maintain global competitiveness in financial technology innovation.

The inaugural head of the office is Moises Rendon, who has been in charge of digital asset policy in New York City for more than one year and has led blockchain-based policies to improve administrative efficiency.

Mayor Adams has been noted for his crypto-friendly actions during his tenure. Early in his term he received part of his salary in Bitcoin and personally led New York's first virtual asset summit. However, he recently gave up his re-election bid and is expected to leave the mayor's office when his term ends at the end of this year. Adams announced his official resignation last month, citing campaign finance issues and political controversy.

The New York City government said that through the launch of the office, "the city has laid the groundwork to become a digital-asset-friendly city where legal regulation and innovation coexist."