New York Senate upholds moratorium on mining

The New York State Senate approved a two-year moratorium on mining cryptocurrencies using electricity generated from carbon sources. CoinDesk writes about it.

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 Legislative Assembly of the state.

Operating companies or those in the process of obtaining permission to mine digital assets will be able to continue to operate. Over the course of a two-year period, the authorities plan to study the potential environmental impact of Proof-of-Work mining.

Democratic Senator Kevin Parker noted that there is currently only one business in the state that is not affected by the restrictions. According to him, the authorities are also considering an application, but a decision on it may be postponed until the end of the study.

The document will come into force after being signed by the state governor Kathy Hokul.