Published: 27.04.2022
Article reading time:
1 min.
The New York State Legislature’s lower house, the New York Assembly, approved a two-year moratorium on the launch of mining farms. The document will now go to the State Senate.
The document numbered A7389C refers to a ban on the launch of new cryptocurrency mining farms based on the Proof-of-Work algorithm using energy from non-renewable sources. Of course, legislators care about the ecology of the state – 95 members of the Assembly voted “yes”, and 52 lawmakers expressed their disagreement with the document.
Representatives of the cryptocurrency industry spoke out against the bill. There were also opponents among officials who said that the miners would simply move the power to other states and New York would lose jobs. However, the position of the authors of the bill was quite clear – the existing capacities will not be affected by the ban, as well as the launch of new farms will be allowed, subject to the use of energy from renewable sources.
The bill was previously approved by the State Environmental Protection Committee. A ban on the launch of new mining farms should help achieve the goal of reducing greenhouse gas emissions by 85% by 2050.
Source: Bits
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