Mayor of New York speaks out against mining

Eric Adams spoke out strongly against cryptocurrency mining during the state budget hearings.

The mayor of New York, who converted his first salary into bitcoin, spoke out against the crypto industry, which supported his campaign for mayor.

At Wednesday's budget hearing, Adams said: 

“I support cryptocurrency, not crypto mining”.

Crypto industry opponents and environmental activists took the mayor's comments as a victory, and a chance to pass a bill on a mining moratorium in New York.

The crypto community, on the contrary, criticized the mayor’s position. Statements about the unenvironmental friendliness and danger of mining the first cryptocurrency have already been refuted by many studies, according to industry representatives. 

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