New York banned PoW mining

  • 11:14 Nov 23, 2022
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New York banned PoW mining

Despite attempts by the cryptocurrency community to lobby their interests, the governor, Kathy Hochul, has imposed a two-year moratorium on mining.

This was a proposal that was approved by the Senate back in the summer to ban new mining companies. However, under the influence of representatives of the crypto industry, the governor did not make a final decision all along.

The signing of the moratorium faced opposition, in particular from Republican Representative Robert Smullen. For her part, Kathy Hochul noted:

Not only will I try to make sure that New York retains its status as a center for financial innovation, but I will also pay attention to protecting the environment and the environment.

Earlier, New York state authorities urged other states to take a similar approach to regulate the cryptocurrency industry.

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