What Is The Future Of NYC’s Crypto Policies Now That Adams Has Stepped Back?

This content was produced in partnership with Coincasino.

The crypto world in New York is now facing a time of confusion. On September 28th 2025, Mayor Eric Adams said he will not run for another term. His name is still on the voting list, but not running, it is unclear what will happen to the support for cryptocurrency in the city. When leaders leave office, it is not always smooth. Changes in leadership affect money matters, and this change could hurt blockchain companies and the businesses connected to them.

Everyday uses of crypto in New York

Digital assets surface in a range of settings. Some residents use them to send remittances abroad, a significant trend given that remittance flows from the US to Latin America and the Caribbean reached $156 billion in 2023, according to the World Bank. Retail traders rely on regulated exchanges for them to buy and sell tokens, while small businesses occasionally experiment with accepting crypto payments. The cultural side is visible too, from NFT projects to online gaming communities.

Within that mix are gambling applications. Offshore cryptocurrency casino sites have become a path for players to continue to use betting sites with digital currencies. Their persistence shows how crypto covers both the finance and entertainment, and why the policymakers face a challenge in drawing clear rules which cover these diverse uses.

The pro-crypto push

Adams departure lands at a critical moment. He regularly spoke in favor of repealing or overhauling the states BitLicense, which critics argue is restricting the growth. It is important to note that the mayor cannot repeal it himself.

Adams also announced the creation of a Digital Assets Advisory Council in May 2025 to advise on blockchain integration in city governance. These initiatives were meant to position New York alongside the global hubs such as Singapore, London and Miami. Now that Adams is stepping back, the preservations remain uncertain.

A leadership vacuum and rising uncertainty

The management vacuum raises questions about whether the new administration will maintain, slow down or reverse the crypto-friendly efforts. Some projects technically remain, but the activity has shrunk. NYCCoin still exists, but its primary exchange (OKCoin) suspended trading in 2023, and recent trackers show insignificant volume. The lack of administrative support means start ups might hesitate to launch in New York until the guidelines are clear.

Market growth and policy risks

The overall gambling industry in America is expected to grow by about 11.6 percent each year between now and 2029. However, in New York, the efforts to legalize gambling did not move forward during the 2025 session of the state legislature. This means that while the national market is expanding rapidly, people in New York still have few regulated gambling options which are still available.

What is next for New York

People are watching to see how New York handles digital assets in the coming days. They’re comparing how other states are managing these assets, because clearer rules in some places make them more appealing to companies that want certainty. There is a lack of clear direction on New York, which causes the businesses to be unsure. Some industry groups say this inconsistent approach make it difficult for companies to decide where to invest their money. At the same time, federal agencies are now increasing their watch on the crypto markets, so businesses have to deal with both state uncertainty and national attention.

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