Republican gubernatorial candidate Bruce Blakeman said he would move to repeal New York State’s BitLicense rules if voters elect him governor.
Speaking at PubKey, a Greenwich Village dive bar known for accepting cryptocurrency payments, Blakeman argued that New York should be leading the digital finance boom. “This should be the financial capital of the world,” he said.
“And without crypto, it is not the financial capital of the world,” he added, criticizing the state’s current posture toward the industry.
BitLicense, introduced in 2015, remains one of the toughest and most far-reaching cryptocurrency regulatory systems in the United States. Opponents have long contended that the framework makes it harder for crypto companies to open, operate and expand in New York.
Blakeman said that, as governor, he would “get rid” of the stringent digital currency licensing structure.
“We’ve got to rethink how we can nurture this business and how we can have a close relationship between the private sector and the public sector on this important issue,” Blakeman said.
Companies that want to buy or sell digital currency in New York must obtain the license, which can cost more than $10,000 — a price tag critics say puts it out of reach for many startups.
The Nassau County executive said earlier approaches to Bitcoin and cryptocurrency have treated the sector as the “enemy,” and he faulted Gov. Kathy Hochul for what he described as a failure to work through her concerns about digital currency.
“Unfortunately, Kathy Hochul doesn’t want to engage in any negotiation or dialogue. It’s ‘my way or the highway,’ and that’s how you chase business out of a state,” Blakeman told The Post at the digital currency-friendly bar.
Blakeman said he’d be willing to sit down with cryptocurrency businesses to work “out something that makes sense.”
“Having a tax on every transaction that takes place is oppressive,” the gov-hopeful added.
“It will end economic activity in the crypto space. So that’s not something that works for crypto, and it’s not going to work for government.”
Blakeman, who doesn’t currently own any cryptocurrency himself, said he hopes to invest in the digital currency one day.
“I can’t afford it because I’m a lowly public servant. So when it comes down a little bit, maybe I’ll get some crypto,” he said. “But it’s definitely something I’ve been looking at.”
While Mayor Zohran Mamdani’s position on the digital currency remains unclear, Blakeman said he will “stop” Hizzoner if he “tries to destroy the economy of New York.”
“A governor has a lot of power over the mayor and the city of New York, and I will not let him destroy the greatest city in the world and a city that is very very important to all of New York State,” Blakeman added.
