New York Is on the Verge of Banning Fossil-Fueled Cryptocurrency Mining

  • New York is now one step closer to becoming the first state to ban crypto mining that relies on carbon-based power sources.
  • The bill calls for a two-year moratorium on fossil-fueled cryptocurrency mining operations that use proof-of-work.
  • Plenty of debate around the bill is focused on the negative impact Bitcoin mining allegedly has on the environment. The bill is now headed to Governor Kathy Hochul to sign it into law or veto it.

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