Reading time: ~2 m
The New York State Senate has approved a two-year moratorium on cryptocurrency mining using electricity generated from carbon sources. CoinDesk writes about this.
We are talking about a bill that provides for the freezing of current levels of carbon emissions from mining. Earlier, the document was adopted by the lower house of the State Legislative Assembly.
Existing companies or those who are in the process of obtaining permission to mine digital assets will be able to continue working. Within a two-year period, the authorities plan to study the potential impact of mining on the Proof-of-Work algorithm on the environment.
Democratic Senator Kevin Parker noted that now there is only one enterprise in the state that will not be affected by the restrictions. According to him, the application is also under consideration by the authorities, but the decision on it can be postponed until the end of the study.
The document will come into force after signing by the governor of the state Katie Hocool.
In February 2022, new York governor candidate Juman Williams called on the current state authorities to ban the mining of bitcoin and other cryptocurrencies on the Proof-of-Work algorithm.
In April, a group of US congressmen appealed to the Environmental Protection Agency with a request to check the mining industry for environmental risks and compliance with relevant laws.
In particular, they mentioned the company Greenidge Generation, which in July 2021 local residents accused of environmental violations. However, they did not specify that the state Supreme Court did not see a negative impact from the construction of mining enterprises “on the air or water of Lake Seneca.”
Later, more than 50 representatives of the bitcoin industry refuted the fears of politicians. In a letter to the Agency, they called the ideas about mining incorrect and stressed that data centers are consumers of electricity that do not produce carbon emissions.
Recall, the United States held the lead in the share in the hashrate of bitcoin with an indicator of 37.8%, overtaking China.
#York #Senate #supported #moratorium #mining