NYC Comptroller Stops Mayor Adams’s Bitcoin Bond Proposal

New York City Comptroller Brad Lander has blocked Mayor Eric Adams’s proposal to issue Bitcoin-backed municipal bonds, known as the ‘Bitbond,’ citing concerns about legal and financial responsibility. Lander argues that integrating cryptocurrencies into public finance is complicated, potentially impacting investor confidence while maintaining traditional fiscal practices. This rejection highlights growing skepticism surrounding the use of cryptocurrency in government finances.