Mayor Eric Adams established the New York City Office of Digital Assets and Blockchain on Tuesday via Executive Order 57.
Moises Rendon will serve as executive director of the mayoral office, believed to be the first of its kind in the nation, and report to Chief Technology Officer Matt Fraser. Rendon is currently policy adviser for digital assets and blockchain at the New York City Office of Technology and Innovation. He was previously a director for the Washington, D.C., office of the Americas Society/Council of the Americas.
One of Rendon’s first tasks will be to form a commission of digital assets experts to advise the new office, according to a City Hall press release.
“Today, with the nation’s first mayoral agency focused solely on digital assets and blockchain technology, we continue to signal the opportunities this new form of technology can bring to New York City,” Adams said in a statement. “The age of digital assets is here, and with it comes the chance to grow our economy, attract world-class talent, expand opportunities for underbanked communities, and make government more user-friendly.”
Other cities have embraced new forms of fintech. Last year, Detroit became the largest city in the nation to accept cryptocurrency for the payment of fees and taxes. In 2022, the Colorado Department of Revenue began accepting cryptocurrency for the payment of taxes. And Williston, N.D., a city of about 29,000, announced a partnership with BitPay, a virtual payment platform, to accept cryptocurrency payments for utility bills.
Integrating digital assets into city operations in New York City will likely involve a thorough exploration of the regulatory landscape, as well viewing the effort through the tech-adjacent lenses of equity and privacy.
In a statement, Rendon said he welcomes working with Chief Technology Officer Matt Fraser, city agencies and the private sector to “develop policies and programs that make our government more accessible, transparent, and innovative for New Yorkers in the years ahead.”
