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New York City Takes the Lead: US Launches First Official Crypto Office

On October 14, 2025, New York City announced the establishment of the first official municipal office dedicated to cryptocurrency and blockchain technology.

Mayor Eric Adams signed Executive Order 57, creating the Office of Digital Assets and Blockchain Technology, which will oversee city policy on digital assets and coordinate efforts across various agencies.

The office, led by Executive Director Moises Rendon, aims to balance consumer protection with broader access to digital assets, particularly for underbanked communities.

Key functions include public education on digital assets, exploring blockchain applications for city services, and acting as a single point of contact for industry collaborations.

Additionally, the office plans to work closely with state and federal regulators rather than replace them, ensuring a cohesive approach to digital asset governance.

Rendon's prior experience in the city's Office of Technology and Innovation equips him to streamline interdepartmental relations regarding payments and technical projects.

As part of its outreach, the office will focus on informing residents about potential risks, such as fraud and hacks, associated with digital assets.

This initiative reflects Mayor Adams’ commitment to cryptocurrency, having converted his first three paychecks into Bitcoin and Ethereum shortly after taking office.

Concurrently, the US Office of the Comptroller of the Currency has granted preliminary approval for Erebor Bank, a tech-focused lender that will operate within this new regulatory framework.

Erebor's development marks a significant step toward integrating cryptocurrency within traditional banking sectors, potentially reshaping the landscape for digital assets in the U.S.