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Cryptocurrency News

NYC Mayor Eric Adams speaks out against PoW mining ban legislation

06/14/2022

Less than a minute

2022.06.14 10:46

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. The bill passed on June 3 in the State Assembly and now awaits Governor Kathy Hochul’s signature to become a law.

Source

06/14/2022

Less than a minute