Crypto Mining Decision From the Governor of New York!
Crypto mining decision from the Governor of New York! The New York Senate approved the bill in June. It will impose a two-year moratorium on new licenses for crypto-miners that rely on fossil fuels. New York Governor Kathy Hochul has signed a bill cracking down on crypto investments in the state.
The bill imposes a two-year moratorium on new permits for mining operations that rely on fossil fuels to power their operations. New York lawmakers had already approved the bill in June, but Hochul has stopped short of signing it in the face of major corporate interest, according to Bloomberg.
“I will ensure that New York continues to be a center of economic development, while taking the necessary steps to prioritize the protection of our environment,” Hochul said in a November 22 message. . The first version of the Crypto Mining Bill, which calls for a three-year moratorium on many different areas of mining, died in the Assembly in June last year. Opponents of the current moratorium, such as Republican Senator Robert Smullen, described it as a “technical ban”.
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