The Mayor of New York calls for the termination of NYDFS' cryptocurrency licensing system and proposes the launch of 'BitBond' According to CoinDesk, New York Mayor Eric Adams called for the abolition of the BitLicense cryptocurrency license system issued by the New York State Department of Financial Services (NYDFS) at the Bitcoin 2025 conference in Las Vegas, and proposed the idea of issuing Bitcoin municipal bonds called "BitBond". Adams said, 'Let's cancel the BitLicense and allow Bitcoin to circulate freely in New York,' and promised to push for the creation of municipal bonds supported by Bitcoin. According to the plan released by the Bitcoin Policy Research Institute in March, 90% of the funds raised from such bonds will be used for government spending, and 10% will be used to purchase Bitcoin. Holders will receive 1% annualized interest and a portion of Bitcoin appreciation income.