New York City’s ban on mining forces mayor to compromise

Eric Adams, the mayor of New York City, said he has no intention of giving up on the idea of turning the city into the largest crypto center.

The difficulty is that state governor Kathy Hochul signed a moratorium on PoW mining last week. The decision was discussed at length, but the document was eventually signed and reflected the rhetoric of the White House and the president’s administration.

Nevertheless, Eric Adams believes that the ban cannot prevent the implementation of plans to support the crypto industry.

I’m going to find a compromise by working with the drafters of the bill and those in favor of supporting the crypto community. I have no reason to doubt that a solution will be found.

According to the mayor of New York, the first place in the share of BTC mining hash rate is a reason for the U.S. to be proud. The official fears that the moratorium will have a domino effect on other states. He believes that:

Our job is to promote new technologies and cryptocurrencies all that matters is making the correct choices.