New York State Senators Propose Three-Year Ban on Cryptomining

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A pair of New York State senators have introduced a bill that would prevent cryptocurrency mining centers from operating in the state for at least three years. The proposed legislation, which was drafted by Rachel May and Kevin Parker, aims to set a moratorium to determine just how detrimental of an effect cryptomining and its heavy energy usage might have on the environment. It isn’t clear whether “cryptomining mining centers” might also include smaller operations and/or more casual, individual miners.

Assuming the bill passes, an environmental impact statement review period will begin for all cryptocurrency mining operations in the state, and will be subject to 120 days of public comment. Additionally, the New York State Department of Environmental Conservation will hold at least one public hearing in every region of New York.

Sources: New York Focus, TechSpot

Tsing Mui
News poster at The FPS Review.

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