New York Passed Bill To Ban Carbon-Based Crypto Mining

On Friday, a vote by Albany lawmakers passed a bill to ban specific bitcoin mining operations. The bill will no longer allow mining that run on carbon-based power. The bill has been passed on to Governor Kathy Hochul to approve or veto.

If the bill passes into law, New York will be the first state to ban blockchain infrastructure.

Lawmakers aim to reduce their carbon footprint by banning certain mining operations that require mass amounts of energy. The bill calls for a two-year moratorium which would require mining companies to prove they are using 100% renewable energy.

Some disagree with this move. Perianne Boring, the Chamber of Digital Commerce founder, is one of those people.

“This is a significant setback for the state and will stifle its future as a leader in technology and global financial services. More importantly, this decision will eliminate critical union jobs and further disenfranchise financial access to the many underbanked populations living in the Empire State,” he says.

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