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DOMAINS TOKEN-G

Ronald Maguire

27 April 2022 267 Read Crypto , Bitcoin

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PoW Mining Banned in New York for 2 Years

The New York State Legislature has imposed a two-year ban on all new proof-of-work cryptocurrency mining facilities to limit the environmental impact caused by BTC mining in the state. The new bill was passed as part of New York's Earth Day package. The law also prohibits the renewal of existing PoW crypto facilities that are currently in operation.

The bill will now be forwarded to Governor Cathy Hochul, who can choose to sign or veto it. The bill was met with great backlash and opposition by the Blockchain Association.

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