TL;DR
- The Office will promote Web3, talent, and the crypto economy in New York.
- Moises Rendon will head the office, reporting directly to the CTO.
- Companies must obtain a BitLicense or fiduciary status under strict state regulations.
On October 14, 2025, Mayor Eric Adams signed Executive Order 57 creating the Office of Digital Assets and Blockchain in New York City, the first of its kind in the United States. This initiative puts the metropolis in a race to lead the urban cryptospace revolution. Its core mission is to promote responsible innovation in Web3, attract talent, generate economic opportunities, and position the city as a global hub for cryptocurrencies.
The new office will be headed by Moises Rendon, former advisor to the mayor on cryptocurrencies, who will report directly to Chief Technology Officer Matthew Fraser. Rendon is tasked with designing strategies to strengthen New York’s role in digital finance and blockchain innovation, as well as coordinating dialogue between local authorities and industry.
Mayor Adams has emphasized that the city is characterized by innovation and that this office symbolizes the move toward the technologies of the future. In a symbolic act, he became the first mayor in the United States to receive his salary in cryptocurrency, converting his first payment into Bitcoin and Ethereum through Coinbase.
Regulatory policy and state framework
In New York State, entities conducting virtual currency activities must obtain a BitLicense or status as a limited trust company under state banking law. The regulation requires firms involved in digital custody, transmission, or exchange to comply with capital, auditing, transparency, and rigorous accounting requirements.
The creation of this agency serves as an unequivocal sign of official commitment to digital assets. It is expected to attract investment, accelerate crypto projects, and cement New York as the epicenter of the tokenized economy. At the same time, it will need to balance innovation with citizen protection and effective oversight. Entering this new technological chapter involves risks, but also the possibility of transforming the city’s financial identity toward a more digital future.
