NYC Comptroller Vetoes Mayor Adams’s Bitcoin Bond Proposal

New York City Comptroller Brad Lander has rejected Mayor Eric Adams’s proposal to issue municipal bonds backed by Bitcoin, citing the financial risks associated with cryptocurrency investments. Lander, responsible for debt issuance alongside the Mayor’s Office of Management and Budget, argues that cryptocurrencies are not stable enough to fund crucial city functions like infrastructure, housing, or schools. He further warned that such a move would expose the city to unprecedented risks and erode investor confidence.