New York City Mayor Eric Adams is pushing for the repeal of the controversial BitLicense, a regulatory framework that has long been criticized as hindering innovation within the cryptocurrency industry. Addressing crypto industry leaders at an event, Adams argued that the BitLicense’s restrictions are stifling growth and pushing businesses out of New York. The mayor’s call for change comes amidst growing concerns over the regulation’s impact on the city’s position as a leader in blockchain technology. While the final decision rests with state lawmakers and the New York Department of Financial Services, Adams’ stance aligns with industry sentiment that New York is lagging behind other states like Florida and Texas in their approach to crypto regulations.