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Mayor Eric Adams\u2019s push for a Bitcoin-backed municipal bond faces strong opposition from Comptroller Brad Lander, who found the plan “legally dubious and fiscally irresponsible.”<\/p>\n
New York City Comptroller Brad Lander has criticized Mayor Eric Adams\u2019s proposal to issue municipal bonds backed by Bitcoin, warning that such a move would introduce financial risk and undermine investor confidence.<\/p>\n
In a May 29 statement, Lander said<\/a> he would not allow the New York City to issue the crypto-tied debt instrument while he is in office. Lander\u2019s office shares responsibility for debt issuance with the Mayor\u2019s Office of Management and Budget.<\/p>\n \u201cCryptocurrencies are not sufficiently stable to finance our City\u2019s infrastructure, affordable housing, or schools,\u201d the comptroller said, adding that the proposal exposes the city Read more<\/p>\n<\/p>\n If you liked the article, do not forget to share it with your friends. Follow us on\u00a0Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n If you want to read more News<\/a> articles, you can visit our General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n
\u201dto new risks and erode bond buyers\u2019 trust.\u201d\u00a0<\/p>\n\n