New York Bill That Aims to Establish a Bitcoin Mining Moratorium Awaits Gover...
The state of New York passed a bill that puts a moratorium on specific types of cryptocurrency mining operations that leverage carbon-based energy sources. The policy will place a two-year ban on proof-of-work (PoW) mining if the assembly bill is approved by New York governor Kathy Hochul. New York PoW Mining Moratorium Legislation to Be Delivered to Governor Kathy Hochul’s Desk, Crypto Advocates Say the Bill Is a ‘Significant Setback for the State’ New York-based lawmakers have submitted a bill that aims to ban PoW mining operations that leverage....
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The bill once, approved by Governor Kathy Hochul, would make New York the first state in the U.S to put a moratorium on crypto mining. The New York State Senate approved a controversial proof-of-work (PoW) mining ban bill that would prohibit any new Bitcoin (BTC) mining operations in the state.The PoW mining ban bill was first passed by the state assembly in April last month. It aims to prohibit any new mining operations in the state for the next two years. Now, the bill is headed for the governor’s office, which once approved, would make New York the first state in the United States to....
Currently, the pressure to suspend cryptocurrency and Bitcoin mining in the United States is gaining force in New York as the New York environmental agency evaluates the impact of crypto mining on the environment. On Monday, the New York state senate submitted a bill to enforce a 3-year pause on cryptocurrency mining across the state. […]
U.S. bureaucrats, particularly Democrats, are concerned about climate change and have introduced lots of legislation in order to address these concerns. Now a lawmaker from New York wants to establish a moratorium for bitcoin mining facilities located in the state, which means cryptocurrency miners in New York would have to halt operations. Senator Kevin Parker (D) believes bitcoin mining has a negative environmental impact and businesses would have to pass state greenhouse gas emission targets in order to continue. New York Lawmaker Proposes a 3-Year Halt on Crypto Mining Operations....
The Mayor has been a proponent of the crypto industry and has now pledged support for sustainable Bitcoin miners by asking Governor Hochul to veto a two-year moratorium on mining. New York City’s Mayor Eric Adams spoke out on Monday, June 13, against a bill just one step away from effectively banning Bitcoin mining in the state for the next two years.The bill is designed to place a two-year moratorium on Proof of Work (PoW) crypto miners who do not use 100% renewable energy. At the same time, New York state’s environmental agency is investigating the effects of mining on the environment.....
If passed, the suspension of both new licenses and renewal applications will last for two years. The New York state legislature might ban Proof-of-Work (PoW) crypto mining in the state for at least two years, citing environmental concerns. Over the past weekend, on April 23 and 24, several crypto advocacy groups — including the Blockchain Association and Crypto Council for Innovation — rang the alarm over the upcoming vote in the New York Assembly. The state legislature's official webpage did not indicate a specific date for the vote.1/ New York’s proposed moratorium on proof-of-work....