The New York state passed a bill to ban new crypto miners that don’t use renewable energy sources. Assembly Bill A7389C was sponsored by democrat and environmental activist Anna Kelles:
“[The bill] establishes a moratorium on cryptocurrency mining operations that use proof-of-work authentication methods to validate blockchain transactions; provides that such operations shall be subject to a full generic environmental impact statement review.”
If the bill is accepted, proof-of-work crypto mining will be suspended for at least two years.
However, the imposed law won’t ban Bitcoin or crypto mining – trading and using cryptocurrency won’t be restricted in the state. As Kells said, the bill primarily focuses on prohibiting crypto mining with power plants that use fossil fuels.
The bill encourages the usage of renewable energy sources for mining cryptocurrency to prevent environmental damage.
