Andrew Cuomo, a former New York governor and current candidate in the city’s upcoming mayoral race, has placed a bold emphasis on technology as a cornerstone of his campaign, with a particular focus on cryptocurrency, artificial intelligence, and biotechnology. If elected, Cuomo pledges to significantly reform the city’s approach to emerging technologies, aiming to position New York City as a global innovation leader.
Cuomo’s campaign proposes the creation of a Chief Innovation Officer (CIO) — a new position within city government tasked with overseeing the city’s efforts in AI, blockchain, and biotech. Assisting the CIO will be a newly established Innovation Council, designed to help shape policy, set industry standards, and ensure consumer protections across these sectors. Each of the three focus areas will have its own advisory committee, ensuring dedicated attention to the unique challenges and opportunities in each domain.
In the realm of cryptocurrency and blockchain, Cuomo intends to modernize what he calls an outdated and overly restrictive regulatory environment. At the center of this issue is the controversial BitLicense framework, introduced in New York State in 2015. While the regulation was initially implemented to bring structure to the growing crypto industry, critics argue that its complex requirements have driven innovation out of the state, making it one of the least hospitable environments in the U.S. for crypto startups.
Cuomo plans to scrap or overhaul the BitLicense system, replacing it with a framework that better balances innovation with consumer protection. According to his campaign, the goal is to create a regulatory atmosphere that encourages responsible growth in the blockchain sector while safeguarding the public from fraud and abuse.
His previous experience in the industry lends credibility to his ambitions. Cuomo served as an advisor to crypto exchange OKX during a time when the company was under federal investigation — a role that has sparked both criticism and praise. Supporters argue that his hands-on experience gives him a practical understanding of the regulatory and operational complexities of the crypto space.
Current mayor Eric Adams, a known advocate for digital assets, laid the groundwork for a pro-crypto New York by launching the Office of Digital Assets and Blockchain Technology. Adams has also publicly criticized the BitLicense regime, calling it a barrier to progress. Cuomo seems poised to continue — and potentially expand — Adams’ crypto-forward legacy, though the road to City Hall may be challenging.
Standing in Cuomo’s way is Zohran Mamdani, the progressive frontrunner in the mayoral race. Mamdani opposes the crypto industry’s influence in politics and has previously criticized Cuomo’s association with OKX, particularly in light of the exchange’s $500 million fine following a federal probe. In 2023, Mamdani called for tighter restrictions on crypto activity in New York, despite pushback from industry advocates warning that the current rules are already among the strictest in the country.
Another contender, Republican Curtis Sliwa, has also expressed support for cryptocurrency, albeit in a more limited fashion. In past campaigns, Sliwa advocated for broader access to Bitcoin ATMs and encouraged local businesses to accept crypto payments. While his current platform centers more on crime reduction and quality of life improvements, Sliwa’s previous openness to digital assets positions him as a relatively crypto-friendly candidate compared to Mamdani.
Cuomo sees technology — particularly blockchain — not just as a niche sector but as a transformative force for the city’s future. His policy vision includes not only regulatory reform but also fostering public-private partnerships, encouraging educational institutions to offer blockchain-related curricula, and promoting investment in tech infrastructure.
The broader economic implications of Cuomo’s tech-focused campaign are significant. By attracting blockchain startups and AI firms, New York could see a revitalization of its tech sector, new job creation, and increased tax revenue. Moreover, with the city’s global financial reputation, a more welcoming regulatory climate could position NYC as a natural hub for crypto finance — a role currently filled by cities like Miami, Dubai, and Singapore.
Cuomo’s campaign also highlights the potential for blockchain to improve public services. He has floated ideas such as using distributed ledger technology for transparent government procurement, smart contracts for city contractors, and blockchain-based identity systems to reduce bureaucracy and improve access to services.
Additionally, Cuomo aims to integrate blockchain into housing and real estate transactions to enhance transparency and reduce fraud — a move that could particularly benefit New York’s complex property market. He also supports experimenting with city-backed digital tokens for limited municipal use cases, such as transit credits or public benefit programs.
Despite these ambitious plans, challenges remain. Any shift in regulatory policy will require cooperation from state lawmakers and financial regulators. Moreover, the public remains divided on crypto, with concerns about environmental impact, financial crime, and speculative volatility still prevalent.
Nevertheless, Cuomo’s approach marks a strategic pivot in urban policy — viewing emerging tech not as a threat to be controlled, but as an engine for inclusive growth. Whether this vision will resonate with voters remains to be seen, but it undeniably sets the stage for a heated debate on New York’s role in the future of global innovation.
As the mayoral race intensifies, the battle lines are being drawn not just around traditional issues like public safety or housing, but around the city’s readiness to embrace — or resist — the technological revolution. If Cuomo can successfully make the case that smart regulation and innovation are not mutually exclusive, he may find support among both industry leaders and tech-savvy constituents eager for New York City to reclaim its status as a beacon of progress.