New York Mayor Proposes to Issue Bitcoin Municipal Bond 'BitBond' Concept

On May 29th, according to CoinDesk, New York City Mayor Eric Adams called for the abolition of the BitLicense cryptocurrency license system issued by the New York State Department of Financial Services (NYDFS) at the Bitcoin 2025 conference, and proposed the idea of issuing a Bitcoin municipal bond called "BitBond". Adams said, 'Let's cancel the BitLicense and allow Bitcoin to circulate freely in New York,' and promised to promote the creation of municipal bonds supported by Bitcoin. According to the plan released by the Bitcoin Policy Research Institute in March, 90% of the funds raised from such bonds will be used for government spending, and 10% will be used to purchase Bitcoin. Holders will receive 1% annualized interest and a portion of Bitcoin appreciation income.