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New York Governor Kathy Hochul signed legislation that imposes a two-year moratorium on proof-of-work, PoW, cryptocurrency mining. in state.
The New York Senate approved the billa two-year ban on the opening of new companies using unsustainable cryptocurrency mining back in June. However, Kathy Hochul has so far refrained from signing it due to heavy lobbying from the industry.
An earlier version of the bill, whichwhich included a three-year moratorium on a wider range of mining capacity, was rejected by the Assembly last June. Opponents of the current version, including Republican Assemblyman Robert Smullen, consider the ban "anti-technology."
"I'll make sure New York continues toremain a center for financial innovation, and will take important steps to prioritize protecting our environment,” Hochul said.
Let us recall that last week the New York authorities called on everyone to focus on their approach to regulating the crypto industry.
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