New York City Comptroller Opposes Mayor's Proposed Bitcoin Bond Plan

ChainCatcher news, according to Bloomberg, New York City Comptroller Brad Lander has rejected Mayor Eric Adams' proposal to issue Bitcoin-backed municipal bonds. Brad Lander, who is responsible for bond issuance alongside the Mayor's Office of Management and Budget, stated that New York City will not issue Bitcoin-backed bonds during his tenure. "The stability of cryptocurrencies is insufficient to fund our city's infrastructure, affordable housing, or schools." "Proposing to open New York City's capital planning to cryptocurrencies could expose our city to new risks and undermine bond buyers' trust in our city." Brad Lander is a Democrat and the successor in the November election for Mayor Eric Adams. Eric Adams is currently running as an independent candidate.