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The New York City Comptroller opposes the Mayor's proposed Bitcoin bond plan and stated that he would not agree to its issuance during his tenure.
PANews, May 31 - According to Bloomberg, New York City Comptroller Brad Lander has rejected Mayor Eric Adams' proposal for the issuance of Bitcoin-backed municipal bonds. Brad Lander, who is responsible for bond issuance along with the Mayor's Office of Management and Budget, stated that the city will not issue Bitcoin-backed bonds during his tenure. "The stability of Crypto Assets is insufficient to fund our city's infrastructure, affordable housing, or schools." "The proposal for New York City to open its capital planning to Crypto Assets could expose our city to new risks and undermine bond buyers' trust in our city." Brad Lander is a Democrat and the successor to Mayor Eric Adams in the November election. Eric Adams is currently running as an independent candidate.