<ul><li>New York City is planning to issue the world’s first Bitcoin-backed city government bonds named “BitBond” to establish itself as a financial innovation leader using cryptocurrency, according to Mayor Eric Adams.</li><li>The plan involves securing the bonds not with traditional government money but with Bitcoin itself, representing a new way for local authorities to borrow money.</li><li>Additionally, New York is eliminating its controversial BitLicense, which had been criticized for stifling innovation in the crypto market and pushing blockchain companies away from the region.</li><li>Mayor Adams aims to integrate blockchain technology into civic systems like issuing birth certificates and processing fines and taxes, with a broader strategy to attract talent and investment back to New York as a hub for high-tech and blockchain-based development.</li></ul>

New York City Unveils Bitcoin Bond Plan Amid Major Crypto Policy Shift

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