Bitcoin in Focus as New York Aims to Become Crypto-Friendly

On May 20, New York City hosted its first-ever crypto summit at the historic Gracie Mansion, where Mayor Eric Adams, together with the city’s CTO Matthew Fraser, gathered industry leaders and innovators to discuss the future of digital assets in the city that never sleeps. It’s a clear sign: even traditional power players at the highest political level in New York are now taking crypto seriously – especially Bitcoin.

BitLicense – A Roadblock to Innovation?

A hot topic during the meeting was the much-discussed BitLicense, a permit required for crypto companies wanting to operate in New York. The license has long been criticized for being bureaucratic, expensive (over $100,000), and effectively exclusionary. Only 30 companies have been approved since its introduction in 2015.

Nick Spanos, founder of Bitcoin Center NYC, called it an “insider license,” and several voices called for either abolishing the system entirely or turning New York into a “crypto sanctuary” – a kind of safe haven for innovation.

Bitcoin – The Stable Anchor in the Crypto Economy

The discussions in New York reflect a broader global movement: Bitcoin is increasingly being recognized as the serious and sustainable force in an otherwise volatile crypto world. While many altcoins come and go, Bitcoin remains the most decentralized, transparent, and global monetary network.

BTCX sees this every day: in our customers’ questions, in investors’ growing trust, and in the clear signals now being sent by authorities and institutions: Bitcoin is not a trend. It is a technological and economic revolution – and it’s time to start treating it as such.

Education and Inclusion

Beyond regulation, the summit also addressed how crypto education can be introduced in schools and how the technology can help the over 300,000 New Yorkers who are currently outside the traditional banking system. Here, Bitcoin leads the way – with its accessibility, borderlessness, and transparency.