Cuomo Proposes CIO to Boost NYC Crypto Innovation

Andrew Cuomo has proposed creating a senior Chief Innovation Officer and an Innovation Council with advisory committees for crypto, AI and biotech to modernize regulations, spur public–private collaboration, attract investment and jobs, and position New York City as a “global hub of the future.” The plan follows Mayor Eric Adams’s creation of a municipal Office of Digital Assets and Blockchain Technology and pledges to replace “outdated regulations with a modern framework” that balances consumer protection with industry growth. Campaign observers say the pivot also serves a political purpose — aiming to challenge frontrunner Councilmember Zohran Mamdani — and Cuomo’s past advisory role with crypto exchange OKX, which faced a federal probe and penalties, is likely to shape perceptions of his industry ties. Analysts and traders say clearer municipal endorsement and regulatory clarity could attract greater institutional interest and potentially boost trading volumes for major tokens like BTC and ETH.