TechFlow news, May 31 — According to Cointelegraph, New York City Comptroller Brad Lander has formally rejected Mayor Eric Adams’ proposal for a bitcoin-backed municipal bond (BitBond), calling the plan "legally questionable and fiscally irresponsible."
The Comptroller's office shares responsibility with the Mayor's Office of Management and Budget for debt issuance.
In a statement on May 29, Lander said he would not allow the city to issue debt instruments tied to cryptocurrency for as long as he holds office. He emphasized, "Cryptocurrency is too volatile to fund our city’s infrastructure, affordable housing, or schools."
Notably, Lander may be a potential contender to succeed Adams in the November election, running as a Democrat while Adams seeks re-election as an independent. Currently, Adams has not provided further details on how the proposed BitBond would operate.
Earlier report, New York City Mayor Eric Adams announced at the Bitcoin 2025 conference that he would push for the issuance of bitcoin bonds (BitBond) in New York City.
