The New York State Assembly passed a bill late Tuesday that would ban all new Proof-of-work (PoW) cryptocurrency mining facilities in the state that use a carbon-based fuel for two years. fuel your operations.
The bill, sponsored by Anna Kelles, would not only impose a two-year suspension on the approval of any new Bitcoin mining company, but the proposed moratorium would also prevent the renewal of permits issued to existing cryptocurrency PoW miners. that use carbon-based energy if they try to increase the amount of electricity consumed.
Thrilled that my bill with Senate champion @kevinparkernyc A7389C/S6486D just passed in the Assembly as part of the #EarthDay Package! Thank you to all of cosponsors and advocates who helped get this bill to the floor for a vote! pic.twitter.com/NhVnMo3FJE
— Anna Kelles (@annakelles) April 27, 2022
I’m excited that my bill with Senate Champion @kevinparkernyc A7389C/S6486D just passed the Assembly as part of the #EarthDay package! Thank you to all the cosponsors and advocates who helped bring this bill to the floor for a vote! pic.twitter.com/NhVnMo3FJE
The bill gathered enough support to pass, with 95 in favor and 52 against, and will now be brought to Senator Kevin Parker for a vote in the State Senate.. If successful, it will then be turned over to Governor Kathy Hochul, who can either veto the bill or sign it into law.
The Department of Environmental Conservation (DEC) would be charged, under the bill, with preparing a “generic environmental impact statement” to number, locate, and assess the energy consumption and greenhouse gas emissions of PoW miners and their impact on public health.
The cryptocurrency industry advocacy group, the Blockchain Association, had previously called on “pro-tech, pro-innovation and pro-cryptocurrency” New York residents to oppose the bill, which they say gave gave rise to thousands of messages addressed to legislators.
The association said around three hours of debate took place on the bill, showing what they believe is “greater opposition to the mining ban than proponents believed.”.” In a tweet on Wednesday, the team said that Direct to his energy to the New York Senate to kill what he calls the “anti-tech bill.”
Proposals to ban proof-of-work cryptocurrencies for environmental reasons are becoming more common. A similar proposal called the Markets in Crypto Assets Bill (MiCA) was narrowly defeated in the European Parliament at the end of March, with lawmakers there even considering banning Bitcoin trading to enforce the ban proposal. mining.
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