New York State Assembly Passes Bill Blocking New Cryto Mines T | 🛡CA Capital Announcements

New York State Assembly Passes Bill Blocking New Cryto Mines That Use Non-Renewable Power

The New York Assembly passed a bill to block new crypto mining facilities using non-renewable energy sources from setting up shop in the Empire state.

Assembly bill A7389C, sponsored by Democrat Anna Kelles, will impose a two-year moratorium on new crypto mining firms that use a carbon-based energy source.

The bill itself specifies that the New York Department of Energy "Shall not approve a new application for or issue a new permit ... for an electric generating facility that uses a carbon-based fuel and that provides, in whole or in part, behind-the-meter electric energy consumed or utilized by cryptocurrency mining operations that use proof-of-work authentication methods to validate blockchain transactions."

Read Article