The Governor of New York State signed a 2-year moratorium with the purpose of brake the development from cryptocurrency mining.
Approved by the New York State Senate in June, the bill, which seeks to enforce a 2-year moratorium on new digital coin mining operations according to the mechanism Proof of work – like Bitcoin – and powered by fossil fuelswas approved on Wednesday by Kathy HochulGovernor of New York.
The minors already in operation they are not affected ban however, the moratorium prevents them from renewing their permits or expanding their operations, except for those using green energies.
I will ensure that New York continues to be the center of financial innovation while taking important steps to prioritize environmental protection. Hochul
New York thus becomes the first state the United States to temporarily ban the “new” cryptocurrency mining. The bill had previously been approved by the Assembly. This summer, the Senate adopted the text with 36 votes in favor and 27 against.
Several figures in this industry have come forward following the news. For the Vice President of Strategy at Foundryit’s a ” clear signal that New York is not interested in bitcoin miners. And the fact that they have chosen a particular sector to ban the use of energy “creates a dangerous precedent Selon Kevin Zhang.
